ICYMI: Saudi Arabia’s petrodollar agreement with the US has expired
Signaling a major shift in the global financial landscape, MBS announced that Saudi Arabia will not renew the 75-year-old agreement that helped preserve the US dollar’s dominance in international trade.
The move will allow Riyadh to sell oil in multiple currencies including the yuan, euros, yen, etc, instead of exclusively in dollars.
It could signal an end to Washington’s global financial dominance and raises the question of what the US is famous for exporting that the world is buying.
#Petrodollar #Trade #MBS
@RTnews_unc3
Signaling a major shift in the global financial landscape, MBS announced that Saudi Arabia will not renew the 75-year-old agreement that helped preserve the US dollar’s dominance in international trade.
The move will allow Riyadh to sell oil in multiple currencies including the yuan, euros, yen, etc, instead of exclusively in dollars.
It could signal an end to Washington’s global financial dominance and raises the question of what the US is famous for exporting that the world is buying.
#Petrodollar #Trade #MBS
@RTnews_unc3