On Tuesday, The Wall Street Journal reported Saudi Arabia was in “active talks with Beijing to price some of its oil sales to China in yuan”.

Much of the world is looking to bolster oil reserves amid what the International Energy Agency warned on Wednesday could be “the biggest supply crisis in decades”, as evidence mounts that US and EU efforts to keep Russian gas out of Western vehicles and residences may ultimately backfire.

Sasse, who demanded on Fox that the US “rearm” the Ukrainian regime “constantly”, and insisted that “defeating Vladimir Putin” is the only way to stop China from being able to “displace the dollar”, is just one high-ranking American politician expressing alarm over the continuing de-dollarisation process encouraged by the wide-ranging sanctions on Russia.

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