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End of the reign of US dollar?

The recent slew of Russia-China oil and gas deals could signal that the days of US dollar-priced energy, and therefore dollar dominance, are numbered.

If Moscow and Beijing start trading oil between them in a currency other than the US dollar, that will represent a major change in how the global economy operates and a loss of power for the US and its allies, says one writer.

RECENT trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.

The reasons for the cosier relationship between the two giant...

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