March 31, it was reported that France became the first European country in the West to sign a trade agreement allowing payment in yuan instead of dollars or euros. The state-owned company Total, the world's second-largest LNG giant, was the first to carry the flag of de-dollarization, signing the first LNG purchase agreement with a Chinese state-owned oil company to pay in yuan, while the gas was imported from the United Arab Emirates. This new landscape in global energy markets and international reserve asset space now suggests that the role of the U.S. dollar is being weakened or shared, especially as landmarks of de-dollarization by several major Middle Eastern oil-producing countries, represented by Saudi Arabia, Iran and others, continue to emerge and be exploited. The European Central Bank, Switzerland, Japan, the United Kingdom, Sweden, and the Bank for International Settlements have formed a digital currency development group to bypass the centrality of the dollar. The SHTA trade facility being developed in Switzerland to help the Iranian central bank settle cross-border has also carried out a number of international transactions that bypass the dollar settlement. Switzerland has officially started the process of building a yuan hub, replacing some of its dollar reserves with yuan by selling off dollars in the international reserve space.