Saudi Arabia's 50-year petrodollar agreement with the US expired, giving Saudi Arabia the freedom to sell oil currencies besides the dollar.

Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales

Jun 14, 2024

Saudi Arabia’s 50-year petrodollar agreement with the US expired on Sunday, June 9, 2024, giving Saudi Arabia the freedom to sell oil in various currencies. Saudi Arabia’s decision not to renew its contract allows for the sale of oil and goods in multiple currencies, like the Chinese RMB, Euros, Yen and Yuan. This move is anticipated to speed up the use of currencies other than the US dollar in global trade.

The initial agreement, signed in 1974, required any country purchasing oil from Saudi Arabia to pay with U.S. Dollars. Many other oil producing countries made the decision to sell in dollars as a result.

Bias Distribution

Click to see headlines

Far
Left

Left

Lean
Left

Center

Lean
Right

Right

Far
Right

US-Saudi Arabia Petro Dollar Pact Ends – Joe Biden’s Failures Are Bringing an End to Global Dollar Dominance

The Gateway Pundit

Another EPIC BIDEN FAIL: Saudi Arabia Ends 80-Year Petrodollar Deal with US, Dealing Massive Blow to US Global Economic Dominance – Geller Report

Geller Report

Saudi Arabia Won’t Be Renewing Its 50-Year Petro-Dollar Deal With The US

thepeoplesvoice.tv

Click to close

Untracked Bias

Saudis dropping petrodollar, trade oil in all currencies

MSN

Saudi Arabia’s petro-dollar exit: A global finance paradigm shift. The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, & Yuan, instead of exclusivel

Europe Says

After 50 years.. Saudi Arabia stops selling oil exclusively in dollars and the end of the petrodollar agreement – The World Today

alalamelyoum.co

30 other sources covering this story

Total News Sources 30

Leaning Left 0

Center 1

Leaning Right 11

Last Updated 10 months ago

Bias Distribution Powered by Ground News™

Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales

Bias Distribution

Untracked Bias

More Media Misses

DHS’ Kristi Noem says Trump admin will resume construction of 7 miles of southern border wall

Minnesota Republicans introduce bill to classify ‘Trump Derangement Syndrome’ as mental illness

Gabbard pledges to ‘aggressively pursue’ leaks from US intelligence agencies

Voters flood town halls with fears of Social Security cuts, putting heat on GOP over Musk and DOGE

ACLU releases video of Mahmoud Khalil’s ICE arrest

NASA finds global sea level rose faster than expected last year

Latest SAN Stories

Test post with no body copy

How does dyeing the Chicago River on St. Patrick’s Day impact fish?

Trapped Antarctic researchers reporting death threats from colleague

Democratic Party’s favorability ratings drop to record low: Poll

Politics

Democratic Party’s favorability ratings drop to record low: Poll

New Trump travel ban would restrict or deny more than 40 nations

Dept. of Education investigates ‘racial discrimination’ at more than 50 colleges

U.S.

How does dyeing the Chicago River on St. Patrick’s Day impact fish?

Trump says he’ll speak with Putin on Tuesday about ending Ukraine war

Judge threatened with impeachment after blocking Trump deportation plan

International

Trapped Antarctic researchers reporting death threats from colleague

Fisherman survives 95 days lost at sea eating cockroaches, turtles

Trump to speak with Putin as Ukraine ceasefire deal continues

Tech

Thousands of X users impacted by X outage, ‘Dark Storm’ claims responsibility

TikTok profits from sexual content by teens, sparks safety concerns: Report

Biotech company hoping to revive woolly mammoth, creates ‘woolly mouse’: Study

Unbiased news. Directly to your inbox. Free!

Unbiased news. Directly to your inbox. Free!

Unbiased news.
Directly to your inbox. Free!