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Chinese Commerce Ministry Official Dismisses WSJ Report that China Will Buy Saudi Oil Using RMB

by Eric Olander

A well-known Chinese Ministry of Commerce (MOFCOM) official in Beijing, Cheng Wang, dismissed the Wall Street Journal report that Saudi Arabia is considering the option of allowing China to purchase oil using yuan rather than U.S. dollars.

Cheng called the report “gossip” shortly after the WSJ published a story that claimed the two countries have accelerated talks about replacing the dollar with RMB.

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