Consider the following statements: 

  1. Most oil & gas exporting countries are using the US dollar for their transaction
  2. Most oil & gas exporting countries are using Asian Clearing Union Mechanism for settlement

Which among the above statements is / are correct?

[A] Only 1 is correct
[B] Only 2 is correct
[C] Both 1 & 2 are correct
[D] Neither 1 nor 2 is correct

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