Saudi Arabia is reportedly accelerating the talks with Beijing to price some of its oil sales to China in renminbi. This move is believed likely to reduce the U.S. dollar's dominance of the global oil market. How would switching to the yuan affect the Chinese currency's international status and the global financial system? How Western sanctions on Russia may also spur efforts to use the Chinese yuan?

To discuss these issues and more, we've invited Liu Zhiqin, senior fellow at the Chongyang Institute for Financial Studies of Renmin University of China; Professor Jun Qian, executive dean of the Fanhai International School of Finance of Fudan University; and Professor Gal Luft, co-director of the Institute for the Analysis of Global Security, who is also a professor at Ostim Technical University.