"Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales ---  Talks between Riyadh and Beijing have accelerated as the Saudi unhappiness grows with Washington"    --- Wall Street Journal & 

                                                      Fox Business News


"Yuan Jumps After Report on Saudis Weighing Its Use in Oil Deals"    --- Bloomberg News



"India reportedly explores yuan in oil trade with Russia...  ---  Reported move highlights growing frustration over US sanctions"      --- Global Times


It was just a few days ago, that the Wall Street Journal said this:  

"The U.S. is sitting on top of a horizontal empire, capitalism’s self-organizing, incentive-based structure with its layers of value. It’s not the Marxist mush of “to each according to his needs.” You gotta earn your spot. Think of the U.S. dollar as the thread or even the duct tape that binds the layers together. Nearly 60% of the $12.8 trillion in world-wide currency reserves are dollars. Is America’s “exorbitant privilege”—the almighty dollar as the world’s leading reserve currency—under threat? Should you even care?...   Sanctions have bitten Russia. A huge chunk of its $630 billion in foreign reserves are frozen. Oligarchs’ yachts have been seized. Visa, Mastercard and American Express suspended service in Russia. Apple and Google Pay stoppage stranded cashless travelers on Moscow’s metro. From Netflix to Nike, voluntary sanctions are in force....  Was cutting Russia out of the global financial system the right move? Naysayers think this is the beginning of the end of the dollar as the reserve currency because Russia will cozy up to China and adopt the yuan or pivot to cryptocurrencies. China may start dumping dollars. In fact, since 2014 China and Russia have severely reduced their dependence on the dollar for bilateral trade...."  ("Is the Dollar in Danger?  ---  China and Russia may be working to take away America’s ‘exorbitant privilege.’ "  by Andy Kessler, 3/13/2022,  Opinion/ Inside View   [https://www.wsj.com/articles/is-the-dollar-in-danger-china-russia-ruble-yuan-reserve-currency-foreign-sanctions-11647195545]).

This is Mr. Kessler's conclusion:  "....  Sanctions on Russia won’t endanger the dollar right away, but wars are when transitions occur. America shouldn’t risk its reserve-currency status. Inflation really will run rampant if other countries start dumping dollars. America’s privilege is worth maintaining—easier said than done."  

That is far from a chest-thunping quote.....  It is circumspect and well-grounded in reality.