Saudi Arabia ends petrodollar deal with US, moving towards multicurrency trade.

The US-Saudi Arabia petrodollar deal, in place since 1974 and requiring Saudi Arabia to price oil exclusively in USD, has ended. Saudi Arabia is now open to multicurrency trade with other nations, potentially including Chinese RMB, Euros, Yen, Yuan, and digital currencies like Bitcoin. This marks a significant shift away from the US dollar, signifying a move towards de-dollarization. The implications for the global financial landscape and international relationships remain to be seen.

Articles

Firstpost

Windows to Russia

The Daily Caller

Free Republic

Red State

Organiser

Sri Lanka Guardian

-- show less --

Further Reading

Related Stories