Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales

Tuesday, March 15, 2022 | Tag Cloud Tags: , , , , , , , ,

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(Worthy News) – is in active talks with Beijing to price some of its sales to in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’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. commitments to defend the kingdom, the people said. [ Source: Wall Street Journal (Read More…) ]

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