Reported 9 months ago
Rumors circulated online that Saudi Arabia would abandon the US dollar and not renew a 50-year 'petrodollar agreement' with the US, opting to sell oil in multiple currencies. However, investigations revealed that the original post came from a cryptocurrency forum without any official sources or expert endorsements. There is no evidence of such an agreement existing, as the 1974 economic and military cooperation agreement between the US and Saudi Arabia did not mention a 'petrodollar agreement.' Various reports clarifying the misinformation have discredited the claims of the agreement expiration or non-renewal between the two countries.
Source: YAHOO