[Teeth53]

Saudi Arabia Considers Ditching The Dollar For Chinese Oil Sales. Mar 15, 2022.


The status of U.S. dollar as the reserve currency of the world is largely based on its importance in energy and commodity markets.

According to an exclusive report from the Wall Street Journal, Saudi Arabia and China are now discussing pricing some Saudi oil exports in Yuan.

China is aggressively pushing to dethrone the dollar as the global reserve currency, and this latest development suggests the petrodollar is now being threatened.

[Teeth53]

https://oilprice.com/Energy/Energy-Gener...Sales.html

[Teeth53]

Global financial system based on the petrodollar.

Saudi Arabia and China are now discussing pricing some Saudi oil exports in Yuan. investing in dollar, explicitly prop up USD as the world reserve currency. This would support the US as the world's undisputed financial superpower.

Those days are coming to an end. One day after we reported that the "UK is asking Saudis for more oil even as MBS invites Xi Jinping to Riyadh to strengthen ties" with China.

[Teeth53]

Saudis are angry over the U.S.’s lack of support for their intervention in the Yemen civil war, and over the Biden administration’s attempt to strike a deal with Iran over its nuclear program. Saudi officials have said they were shocked by the precipitous U.S. withdrawal from Afghanistan last year.

China buys more than 25% of the oil that Saudi Arabia exports, and if priced in yuan, those sales would boost the standing of China’s currency, and set the Chinese currency on a path to becoming a global petroyuan reserve currency.

As even the WSJ admits, a shift to a (petro)yuan system. Saudis no longer care much about US "security guarantees" and instead are switching their allegiance to China.

As reminder, back in March 2018, China introduced yuan-priced oil contracts as part of its efforts to make its currency tradable across the world.

[kokee]

all these moronic comie jokers, so panic & desperate.
use RMB only to china or to the world? LOL LOL.
saudi? If their petrol $$ change to RMB, then US will pull out all their jet & base, let Iran & Iraq take over their country or asl Israel to send a troop to bomb, they will finish.
oil is not so  important resources after 2030 when global turn to mostly Electric car, also US has too much shale oil all  over. Green energy & environmental will prevail.
RMB? once kena sanction like worthless Ruble, coming, you think saudi so stupid & dont know anything?
This will make china kena sanction faster, draw into war anytime, china will kena attack soon, dont blame & complain.



沙特石油交易用人民币？

all these moronic comie dogs can only spam lies from communist sources to brainwash morons here.
use RMB sell to china only, how much china can buy from saudi & Russia? most of china demand already get from Russia, saudi get shit?
Now shenzhen lock down, oil demand dive straight down, oil price plunges almost 20% now, what happen when china kena snaction & all foreign company pull out from china 100% like Russia, still got oil demand? this will not be too long from now.
all these moronic comie dogs just spam nonsense & know nut, this news globally who care.

[Teeth53]

Global financial system based on the petrodollar.

Saudi Arabia and China are now discussing pricing some Saudi oil exports in Yuan. investing in dollar, explicitly prop up USD as the world reserve currency. This would support the US as the world's undisputed financial superpower.

Those days are coming to an end. One day after we reported that the "UK is asking Saudis for more oil even as MBS invites Xi Jinping to Riyadh to strengthen ties" with China.

China has been stepping up its courtship of the Saudi kingdom in recent years, helping Saudi Arabia build its own ballistic missiles, consulting on a nuclear program, and investing in Crown Prince Mohammed bin Salman’s pet projects, such as Neom, a futuristic new city.

From 1980s US imported 2 million barrels of Saudi crude a day, but have fallen to less than 500,000 barrels a day in December 2021. By contrast, China’s oil imports have swelled over the last three decades. its expanding economy. Saudi was China’s top crude supplier in 2021, selling at 1.76 million barrels a day, followed by Russia at 1.6 million barrels a day, Data from China’s General Administration of Customs.

“The dynamics have dramatically changed. U.S. relationship with Saudis has changed, China is the world’s biggest crude importer and they are offering many lucrative incentives to the kingdom.”

“China has been offering everything you could possibly imagine to the kingdom,” In retrospect, we now know the reason why MBS wasn't taking to Biden's on the phone.

Needless to say, the US is not happy.

[Teeth53]

China has been stepping up its courtship of the Saudi kingdom in recent years, helping Saudi Arabia build its own ballistic missiles, consulting on a nuclear program, and investing in Crown Prince Mohammed bin Salman’s pet projects, such as Neom, a futuristic new city.

From 1980s US imported 2 million barrels of Saudi crude a day, but have fallen to less than 500,000 barrels a day in December 2021. By contrast, China’s oil imports have swelled over the last three decades. its expanding economy. Saudi was China’s top crude supplier in 2021, selling at 1.76 million barrels a day, followed by Russia at 1.6 million barrels a day, Data from China’s General Administration of Customs.

“The dynamics have dramatically changed. U.S. relationship with Saudis has changed, China is the world’s biggest crude importer and they are offering many lucrative incentives to the kingdom.”

“China has been offering everything you could possibly imagine to the kingdom,” In retrospect, we now know the reason why MBS wasn't taking to Biden's on the phone.

Needless to say, the US is not happy.

Senior U.S. official told the Biden's that the idea of the Saudis selling oil to China in yuan was “highly volatile and aggressive” and “not very likely.”  

The official also said Saudis had floated the idea in the past when there was tension between Washington and Riyadh.

It is, of course, possible that the Saudis could back off. Switching millions of barrels of oil trades from dollars to yuan every day could rattle the Saudi economy, which has a currency, the riyal, pegged.

[RiseofAsia]

It is a good start… Let see when will Nippon ditch USD to buy oil…

[Teeth53]

China has been stepping up its courtship of the Saudi kingdom in recent years, helping Saudi Arabia build its own ballistic missiles, consulting on a nuclear program, and investing in Crown Prince Mohammed bin Salman’s pet projects, such as Neom, a futuristic new city.

From 1980s US imported 2 million barrels of Saudi crude a day, but have fallen to less than 500,000 barrels a day in December 2021. By contrast, China’s oil imports have swelled over the last three decades. its expanding economy. Saudi was China’s top crude supplier in 2021, selling at 1.76 million barrels a day, followed by Russia at 1.6 million barrels a day, Data from China’s General Administration of Customs.

“The dynamics have dramatically changed. U.S. relationship with Saudis has changed, China is the world’s biggest crude importer and they are offering many lucrative incentives to the kingdom.”

“China has been offering everything you could possibly imagine to the kingdom,” In retrospect, we now know the reason why MBS wasn't taking to Biden's on the phone.

Needless to say, the US is not happy.

Saudis plan to do most oil transactions in Chinese Yuan and the transition has begun. The move could tempt other producers to price their Chinese exports in yuan as well. China’s other big sources of oil are Russia, Angola, and Iraq

[cityhantam]

司马南：乌战云密布，沙特突然喜欢起人民币？

[cityhantam]

[growthorvalue]

if US get directly involved with Ukraine war then Saudi Arabia and many others will take advantage and move ahead to ditch usd...

[Kgliangp]

Which bank in Singapore is link to CPIS. IT IS ABOUT TINE TO KICK THE WEST OUT. They are robber lairs especially, spreading fake news every single days and destorying at least 4 may be six country over the last 20years