U.S.-Saudi Petrodollar Pact Ends after 50 Years

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2024-06-13 10:36:05 -

#Economy
#SaudiArabia Ends 50-Year #Petrodollar Pact!
Saudi Arabia has decided not to renew its 50-year-old petrodollar agreement with the United States, which expired on June 9, 2024. This agreement, established in 1974, mandated that Saudi Arabia sell oil exclusively in U.S. #dollars. The non-renewal allows Saudi Arabia to sell oil in multiple currencies, including the #Chinese RMB, Euros, Yen, and Yuan, marking a significant shift in global financial dynamics.
U.S.-Saudi Petrodollar Pact Ends after 50 Years https://www.tipranks.com/news/u-s-saudi-petrodollar-pact-ends-after-50-years

#Economy #SaudiArabia Ends 50-Year #Petrodollar Pact! Saudi Arabia has decided not to renew its 50-year-old petrodollar agreement with the United States, which expired on June 9, 2024. This agreement, established in 1974, mandated that Saudi Arabia sell oil exclusively in U.S. #dollars. The non-renewal allows Saudi Arabia to sell oil in multiple currencies, including the #Chinese RMB, Euros, Yen, and Yuan, marking a significant shift in global financial dynamics. U.S.-Saudi Petrodollar Pact Ends after 50 Years https://www.tipranks.com/news/u-s-saudi-petrodollar-pact-ends-after-50-years

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U.S.-Saudi Petrodollar Pact Ends after 50 Years - TipRanks.com

The 50-year-old petrodollar agreement between the U.S. and Saudi Arabia was just allowed to expire. The term “petrodollar” refers to the U.S. dollar’s role as the c...

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