Saudi Arabia Ends 80-Year Petrodollar Deal with US, Dealing Massive Blow to US Global Economic Dominance
More historic news the Democrat media complex isn’t reporting. This should be headline news everywhere. Saudi Arabia’s abandonment of the US dollar routs US global economic influence.
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.
Trump has said the dollar is collapsing and would no longer be the world standard… he warned us.
?? ?? 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
As of June 9th, 2024, Saudi Arabia has decline to renew the 50 year Petrodollar agreement.
This agreement provided security and weapons to Saudi Arabia in return for Saudi Arabia pricing oil in US Dollars, which helped maintain the US dollar as the world reserve currency.… pic.twitter.com/SASNHr5VfV
— Wall Street Silver (@WallStreetSilv) June 13, 2024
???? Collapse of the US Dollar
It’s accelerating towards breaking point ‼️
– Saudi Arabia ditches 50 year Petro-dollar deal which saw US Military protection in exchange for oil trade using Worlds reserve currency
– Russia suspends trading in US Dollars in Moscow Stock… pic.twitter.com/epOX5gJ0Dv
— Concerned Citizen (@BGatesIsaPyscho) June 12, 2024
?? Saudi Arabia Crown Prince Mohammed bin Salman declines invitation to G7 Summit.
— ?.?.? (@Mykoladoo) June 13, 2024
Wall Street Silver:
As of June 9th, 2024, Saudi Arabia has decline to renew the 50 year Petrodollar agreement.
This agreement provided security and weapons to Saudi Arabia in return for Saudi Arabia pricing oil in US Dollars, which helped maintain the US dollar as the world reserve currency.
Another crack in the dominance of the US dollar.
Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales
The petrodollar deal was originally signed on June 8, 1974, and was a key part of US global economic influence.
By: India Today, June 134, 2024;
In Short
- ] Saudi Arabia ends 80-year petrodollar deal with US
- Deal allowed Saudi oil sales in US dollars only
- Saudi can now use other currencies like RMB, Euros, etc
Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.
This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia’s military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.
By choosing not to extend this contract, Saudi Arabia can now sell oil and other goods using different currencies, such as the Chinese RMB, Euros, Yen, and Yuan, instead of only US dollars. There’s also talk of exploring digital currencies like Bitcoin for transactions.
This decision marks a significant move away from the petrodollar system established in 1972 when the US stopped linking its currency directly to gold.
It’s expected to accelerate the global trend of using currencies other than the US dollar in international trade.
Article posted with permission from Pamela Geller
