Saudi Arabia’s Petrodollar Agreement with the US has EXPIRED
By Megatron
ICYMI:
Saudi Arabia’s petrodollar agreement with the US has EXPIRED
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.
But considering that the Saudi leader Mohammed Bin Salman is loyal and obedient to the USA, there are great chances that the agreement will be extended but partially, because China will certainly not pay them in dollars in the near future.
Original source: https://x.com/Megatron_ron/status/1801127789401194944