Posted on 03/15/2022 10:38:54 AM PDT by Navy Patriot
In a move that would lessen the U.S. dollar's dominance of the global petroleum market, Saudi Arabia is talking with China about pricing oil sales to Beijing in yuan, The Wall Street Journal reported.
The move, which WSJ learned from people familiar with the situation, would mark another shift by the world's top crude exporter toward Asia.
"The dynamics have dramatically changed," one Saudi official told WSJ. "The U.S. relationship with the Saudis has changed; China is the world’s biggest crude importer and they are offering many lucrative incentives to the kingdom.
(Excerpt) Read more at newsmax.com ...
The Saudis are angry over the lack of American 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, WSJ said.
Also, Saudi officials were shocked by President Joe Biden's withdrawal of U.S. troops from Afghanistan last year, and they remember that then-candidate Biden in 2020 said the kingdom should be a "pariah" for the killing of Saudi journalist Jamal Khashoggi in 2018.
not interested in bitcoin I see...………..
Obama was sure right about one thing...Joe really is good at effing things up.
Let’s go Brandon! [FJB]
Don’t worry. Once Biden gets in office, the world will respect us.
/sarc
Well, the neocon forever war hawks didn't anyway.
This is massive. The PetroDollar deal has been ongoing since the end of WWII. Thus the US Dollar became the settlement currency. Thank you Joe, you allowed the dollar to die on your watch!
Eat the bugs dammit ! Then feed ‘em to your kids . Uncle Joe will feed us , Heh .
Agree.
Thanks, rktman, very pertinent.
You are cracked.
What will the Saudis do if the yuan loses value after sanctions on China are imposed by the U.S. and western allies? Cheaper oil? Less revenue for their oil trade?
“Saudis Consider Accepting Yuan Instead of Dollars for Chinese Oil Sales: Report”
how about roubles? ... there’s lots of those around ...
Allowed?
He masterfully got us there.
Roubles or whatever, there will be an exchange established, and it will be volatile.
The point is, the United States has destroyed the only safe, reasonably stable, (until Democrat control) International exchange currency, all by herself.
The resulting market chaos will have considerable negative effects on the entire World's Economy.
No, the safety of the Dollar is cracked.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.