In June 2024, Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024. The decision not to renew this pact stems from Saudi Arabia's recent invitation to BRICS and its move towards dedollarization. Crown Prince Mohammed bin Salman has informed the Saudi government that the country will no longer accept US dollars for oil transactions. This shift includes considerations to accept other currencies, such as the Chinese yuan, for oil sales, as reported by the Wall Street Journal on March 15, 2022.
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- bambino
- 06-09-2024, 12:54 PM
- Salty Again
- 06-09-2024, 02:09 PM
... Hmmmm... Now THAT seems rather odd -
- because come Next Year - Saudi Arabia will be BEGGING the US
to buy their oil.
#### Salty
- because come Next Year - Saudi Arabia will be BEGGING the US
to buy their oil.
#### Salty
- bambino
- 06-09-2024, 02:33 PM
... Hmmmm... Now THAT seems rather odd -We’ll buy it with gold backed Rubles.
- because come Next Year - Saudi Arabia will be BEGGING the US
to buy their oil.
#### Salty Originally Posted by Salty Again
https://x.com/venture2018/status/179...0AMolspcYxY9QA