As more oil deals are being done in other currencies, what is the future of the world’s dominant currency?
Historically, the United States punished nations that tried to trade oil using currencies other than the US dollar. But recently it has not been able to stop countries from branching out and making deals in other currencies.
Russia and China are leading the charge, but more countries may be jumping on the bandwagon, including Brazil and Saudi Arabia.
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So, are we witnessing the beginning of the end of the dollar’s supremacy?
Host Steve Clemons puts this question to renowned energy market expert, Daniel Yergin, the vice chairman of S&P Global and author of The New Map: Energy, Climate, and the Clash of Nations.