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Venezuela hopes to create non-dollar trading bloc
By Nidhi Verma and Promit Mukherjee
Tuesday, February 12, 2019
NEW DELHI, India -- Venezuela hopes to create a trade bloc consisting of China, India, and Russia to help the South American country settle oil payments in currencies other than the dollar, its oil minister said today.
The strife-torn country is looking for alternative payment methods to keep oil flowing to India, a crucial export market, especially after the United States imposed sanctions curbing the OPEC member's crude exports to the United States.
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"We all can build one economy and that economy does not necessarily have to be within the dollar economy," Manuel Quevedo said, referring to China, Russia, and India. ...
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