China’s CNOOC reported the receipt of the first cargo of liquefied natural gas that the company paid for in Chinese yuan in the latest instance of the ongoing diversification of international energy trade. The state energy firm, as quoted by China Daily, said it had bought 65,000 tons of LNG from the UAE, noting that settling international trade deals in the local currency was becoming more mature. International trade in the Chinese currency has been expanding rapidly over the past year, after the West cut Russia out of the SWIFT system,…
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