The death of the dollar begins.... China and France have completed an LNG gas trade using the Chinese yuan, thus ending the reliance on the US dollar for energy trades.

 Thanks to J. Villain for the link!

via Watcher.guru

In what is a landmark development, China and France have completed an LNG gas trade using the Chinese yuan, thus ending the reliance on the US dollar for energy trades. Moreover, Reuters reported that the transaction involving 65,000 tonnes of LNG from the UAE marked the first yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchange.

Chinese National oil company, CNOOC, and France’s TotalEnergies completed the transaction on Tuesday, according to reports. Additionally, Energy World reported TotalEnergies confirmed the transaction “involved LNG imported from the UAE but did not comment further.”

Story here 

The UAE is selling natural gas and using China as an intermediary to France...with France allowing it?

Alot to unpack here and I'm not sure I'm capable of doing it, but on the surface this is troubling.

France an ally of ours that is doing ops in the Pacific with our US Navy supposedly in an attempt to contain China is now allowing the UAE to use China as an intermediary and use the Yuan to do it?

That's huge.

The UAE that has been called an "ally", has participated in numerous exercises with us, has hosted US troops is suddenly in bed with China?

This seems bad...really bad.

Tell me I'm wrong.