Saudi Arabia says the want to create the “petroyuan” after Saudi Arabia refuses to accept American plan

🇸🇦 🇺🇸 Saudi Arabia's 50-year-old petrodollar agreement with the United States has expired, with no new agreement in place.

Saudi Arabia will now sell oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. pic.twitter.com/MxdUn8t2ZP

— BRICS News (@BRICSinfo) June 12, 2024

Saudi Arabia’s minister of industry says country willing to ‘try new things’ in relationship with China, Chinese companies ‘welcome’

A top official from Saudi Arabia said the country is “open to new ideas” – including use of the yuan in crude settlements – as the oil-rich Middle Eastern nation looks to incorporate Chinese products like electric vehicles (EVs), the C919 passenger jet and renewable energy infrastructure while it attempts to diversify its economy.

https://www.scmp.com/economy/global-economy/article/3277788/saudi-arabia-open-petroyuan-closer-china-ties-minister-says

AC