The Hill
The Wall Street Journal reported Tuesday that Saudi and Chinese officials are in talks to price some of the Gulf nation's oil sales in Chinese currency.
The two nations have been talking about the matter for six years, but Riyadh is said to be upset with the United States over the nuclear negotiations with Iran and its lack of support for Saudi Arabia's military operation in Yemen.
The Saudis have exclusively used the dollar for oil trading since the mid-1970s as part of a security agreement with the U.S. government, according to the Journal.
Beijing is trying to make its currency tradeable in international oil markets and strengthen its relationship with the Saudis. China aided Riyadh in the construction of missiles.
The Saudi-U.S. relationship has deteriorated in recent years. The Crown Prince put forth a public image of being a reformer and liberalizing the country's policies on women's rights and criminal justice.
The assassination of a dissident journalist has hurt the crown prince's relations with Washington. President Biden said that the assassination should make the kingdom a pariah.
China and Saudi Arabia have a closer economic relationship, with the kingdom providing 1.76 million barrels of oil a day to the country in 2021, according to the Journal. While the country plans to maintain the dollar for the majority of its oil trading, a shift by the Saudis could create a domino effect for China's other major oil suppliers.
Saudi Arabia threatened to sell in other currencies if Congress passed a bill that would allow antitrust liability. The bill has been introduced many times over the years.
The U.S. has appealed to the Saudis to pump more oil to offset soaring gas prices compounded by Russia's invasion of Ukraine and the U.S. cutting off Russian oil imports in response.
According to reports, Saudi Arabia is in talks with Beijing to price some of its oil sales to China in the Chinese currency of the same name. This could help the dollar in a post-dollar world.
Recent events have brought new attention to the issue of the Saudis accepting yuan instead of dollars.
Ad•TheDaddestSome of the best company responses will be seen on social media.
Saudi Arabia may sell oil to China and be paid in the Chinese currency of the time, the WSJ reported.
ProFootball Talk on NBC SportsIt is easy for the NFL to take action against a player who uses his phone to bet on football. It is not easy for the NFL to properly police the potential misuse of inside information related to pro football. Todd Dewey of the Las Vegas Review-Journal explained that the vice president of the SuperBook was Jay.
Ratings agencies and global experts expect Russia to default on its debts soon, and some are worried about potential global implications. See:Tesla will keep conscripted Ukrainians on.
Few know that Amazon has millions of Prime subscribers.
Some celebrities have denied having plastic surgery in the past. Should they be honest with their fans?
People with food allergies are not faking it or doing it for attention, and they don't deserve to have their health weaponized against them.
Rosie Huntington-Whiteley gave a glimpse of her baby girl in a series of dreamy, cozy snapshots. Huntington-Whiteley shared the first images of her little one on the social media site, which included her snuggling in her blanket, along with some sweet cards she received after giving birth.
The AirMini AutoSet is the world's smallest CPAP. For a limited time, you can get a free prescription for the AirMini.
The Queen has joined the cultural boycott of Russia.
If Russia made two U.S. dollar bond coupon payments in roubles, it would constitute a default, according to the credit ratings agency. The payment in local currency of Russia's U.S. dollar Eurobond coupons due on 16 March would be limited because of sanctions.
The bill to make daylight saving time permanent was unanimously passed by the Senate.
Ad•RaidEnjoy this stunning graphics and deep game-play.
Harold Varner was 8-under on Monday at the final round of the Players Championship.
Judge will become a free agent after this season if the Yankees and him don't agree to a contract extension.
The network said that Pierre Zakrzewski, a cameraman for Fox News, was killed in Ukraine on Monday in the same attack that left correspondent Benjamin Hall hospitalized.
Ad•FactableWhen Larry Hall heard about a former Atlas Missile silo in Kansas, he thought it was perfect for a project.
The new models in the iPhone 14 series are expected to contribute to an increase in sales in fiscal 2022.
The U.S. Senate unanimously passed a bill to move the U.S. to permanent daylight saving time.
I was shaking and staring at the ticket for about 15 minutes.
Ad•Kohl'sYou will always be in love with the West Virginia Mountaineers. Put pride in the spotlight by doing so.
The Fox News host wants you to believe that his opposition to sending military support to Ukraine stems from a genuine concern for the wellbeing of Ukrainians.
The ban on wearing the hijab in schools and colleges was upheld by the High Court in India. A third year female student said she was considering dropping out of her classes because of the verdict. The Students Islamic Organization of India fear that the ruling could set a precedent for the rest of the country.
An official at the mayor's office said that a bomb shelter under a theatre in Mariupol withstood a Russian air strike and there are believed to be survivors trapped underneath. Hundreds of people, including many children, were sheltered in the theatre during the siege of the port city, according to the Ukrainian government. Russia denied bombing the theatre.
All Rights Reserved © 2024
