Petroyuan
Petroyuan[1][2] is a form of the official Chinese currency, the yuan intended at least initially for oil trading.[3] On 26 March 2018, the Chinese government issued the first long term oil trading contracts denominated in petroyuans.[4] This project exists to attempt to compete with the U.S. petrodollar as a main currency in crude oil transactions, whose hegemony has led the market since the dollar standard was first established in 1971, replacing the gold standard and giving the United States the power to manage most of the world's currency supply (around ~60%).