DENPASAR, Indonesia -- China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.
Economy
China sees new world order with oil benchmark backed by gold
Yuan-denominated contract will let exporters circumvent US dollar
Exports from Russian oil fields like those in Bashkortostan could soon be traded in yuan to circumvent U.S. sanctions.
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