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Friday, December 01, 2023

UAE: To drop the U.S. dollar in future oil trades?note

UAE
Energy, Oil and GasUAE foreign policy

The UAE is contemplating the option of using its local currency instead of the U.S. dollar in new oil deals.

This note provides an overview of the following aspects:

- The reason for the UAE to use an alternative to the U.S. dollar

- ADNOC’s plan for future oil trades

- The countries that ADNOC is considering to implement this option with

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