May 23

De-Petrodollar-ization Esclates – China Imports Record Amount Of Russian Oil In April:

We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar. Of course, as the US has been playing geopolitical games, China and Russia have been working on strengthening their relationship with one another. At the end of 2015, China had become Russia’s biggest oil customer, and as of April, Russian oil shipments to China hit a record high. Russia has also surpassed Saudi Arabia as the biggest crude exporter to China.

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