Loading ...Saudi Arabia Is Open To Discuss Non-Dollar Oil Trade Settlements
Saudi Arabia, the world’s largest crude oil exporter, is open to discussing oil trade settlements in currencies other than the U.S. dollar, Saudi Minister of Finance, Mohammed Al-Jadaan, told Bloomberg TV in an interview in Davos on Tuesday.
The Saudi signal that it could be open to talks about oil trade arranged in non-dollar currencies could be another threat to the current dominance of the U.S. dollar in global oil trade.
https://finance.yahoo.com/news/saudi-arabia-open-discuss-non-160000583.html
Joe Biden loses Saudi Arabia, and Henry Kissinger talks about supporting the Ukraine. Genius!
Those comments out of Saudi Arabia are important on a number of levels, the key one being they finally signal an official repudiation of the Petro Dollar relationship. The Saudis obviously no longer trust the US Administration to be available to come to their defence if attacked. The old agreement is thus void. Dollar hegemony as the only significant reserve is officially over. The Saudi’s have expressed lost confidence with those statements they made and are no longer going to backstop US dominance in the Gulf or anywhere else. Now the dominoes can fall.
Totally Agree!
I also think there was great significance for the announcement to being made at the DAVOS meeting of corporate, government and privileged elite. This may have been a “quiet” message but they used a megaphone to deliver same!
Poszar Was Right: Saudis Confirm Non-Dollar Oil Trade Plans In Davos — “…dusk for the petrodollar… and dawn for the petroyuan.” — https://www.zerohedge.com/energy/poszar-was-right-saudis-admit-non-dollar-oil-trade-plans-davos