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16-03-2022, 08:27 AM
Phil Rosen 7 hours ago
The world's top oil exporter and the world's biggest oil importer could shake up the US dollar's dominance in the global petroleum market.
Saudi Arabia is in talks to sell oil to China and be paid in yuan instead of dollars, according to a Wall Street Journal report.
......
The longtime Mideast ally has grown unhappy with the US due to the Biden administration's reluctance to do more in the Yemen civil war and its push to revive the Iran nuclear deal.
In 2020, Biden also promised to make Saudi Arabia a "pariah" over the murder of a journalist. And since becoming president, he has made it clear that he doesn't consider Saudi Arabia as an ally, but rather as a partner.
What's more, Saudi Crown Prince Mohammed bin Salam reportedly rejected a request for a call with Biden to discuss Ukraine and boost oil production amid the West's sanctions against Russia.
https://markets.businessinsider.com/news...eal-2022-3
The world's top oil exporter and the world's biggest oil importer could shake up the US dollar's dominance in the global petroleum market.
Saudi Arabia is in talks to sell oil to China and be paid in yuan instead of dollars, according to a Wall Street Journal report.
......
The longtime Mideast ally has grown unhappy with the US due to the Biden administration's reluctance to do more in the Yemen civil war and its push to revive the Iran nuclear deal.
In 2020, Biden also promised to make Saudi Arabia a "pariah" over the murder of a journalist. And since becoming president, he has made it clear that he doesn't consider Saudi Arabia as an ally, but rather as a partner.
What's more, Saudi Crown Prince Mohammed bin Salam reportedly rejected a request for a call with Biden to discuss Ukraine and boost oil production amid the West's sanctions against Russia.
https://markets.businessinsider.com/news...eal-2022-3
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