An economist explains the reasons for continuing to sell oil in dollars

iraqi news

Monetary master Safwan Qusay made sense of, on Tuesday, the explanations behind proceeding to sell oil in the dollar money as opposed to managing nations to get incomes without going through the US Government Bank.

Qusay told Al-Maalouma, “Oil in all nations of the world is sold in dollars, and this matter got through the arrangement after The Second Great War to make oil deals in dollars, and this association is still active right up ’til now.”
He added, “to offer oil to China in the yuan rather than the dollar, this implies that Iraq offers in dollars and afterward changes it over completely to the Chinese cash to get away from the US Government Bank.”
He expressed, “There are many degenerate individuals who might be urged to claim this cash assuming they manage the Chinese money, so it is smarter to keep managing nations in the dollar money since there is oversight from the Central bank over this money, as well as guaranteeing that billions don’t go under the control of degenerate individuals under various titles.”


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