An economist explains why Saudi Arabia and China are looking to ditch the dollar in a new oil deal — and where Beijing could target next as it spreads yuan adoption
Saudi Arabia Considers Ditching The Dollar For Chinese Oil Sales
Convert Chinese Yuan Renminbi (CNY) and Saudi Arabian Riyals (SAR): Currency Exchange Rate Conversion Calculator
An economist explains why Saudi Arabia and China are looking to ditch the dollar in a new oil deal — and where Beijing could target next as it spreads yuan adoption
Aramco health adds spice to Saudi’s yuan dilemma
Just recently, the Biden administration transferred a significant number of Patriot missiles to Saudi Arabia after urgent resupplies were requested.
One reason Saudi Arabia is considering an oil deal in yuan is because it would create exposure to a currency other than the dollar, and affords the country a yuan-based hedge.