- Saudi Arabia is considering accepting Yuan for Chinese oil sales
- If this goes through it would be a huge blow to the US dollar’s dominance in the petroleum market
- It would also mark another shift towards Asia from Saudi ArabiaÂ
- This comes after Saudi Arabia and the UAE would not even take Joe Biden’s calls as it pertains to producing more oil
- This is another major embarrassment for the United States during Biden’s presidency
Saudi Arabia is officially considering accepting the Yuan instead of the US dollar for Chinese oil sales.
— Disclose.tv (@disclosetv) March 15, 2022
Saudi Arabia is in active talks with Beijing to price its some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollarâ€™s dominance of the global petroleum market and mark another shift by the worldâ€™s top crude exporter toward Asia.
The talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom, the people said.
This is breaking – will update it as we learn more
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions.Â
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