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.
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.