***The deal is worth 85-billion US dollars.***
Since this is reported from Chinese radio and the trade is between Russia and China, the fact they mention how much the deal is worth in USD means the oil will be settled in U.S. dollars (for now anyway)?
Or why would this be mentioned here?
China and Putin have both made it clear that they are unhappy with the current petrodollar/reserve currency status quo and are interested in alternatives. this trade between them is a big signal IMO.
I was hoping they would make the exchange in the Mexico Peso currency.