SAUDI ARABIA CONSIDERING ACCEPTING YUAN INSTEAD OF DOLLARS
Saudi Arabia reportedly considering accepting yuan instead of dollar for oil sales. Saudi and Chinese officials are in talks to price some of the Gulf nation's oil sales in yuan rather than dollars or euros.
Via WSJ
-Talks have been on an off for six years but have recently picked up pace.
-The piece notes this will dent Dollar dominance.
-China purchases over 25% of Saudi’s oil exports.
Via WSJ
-Talks have been on an off for six years but have recently picked up pace.
-The piece notes this will dent Dollar dominance.
-China purchases over 25% of Saudi’s oil exports.