Reported about 1 year ago
Saudi Arabia has announced the termination of the oil petrodollar agreement with the United States, ending over half a century of the 'Petrodollar' era. Amid escalating tensions in the Middle East, speculations suggest that Saudi Arabia's decision signifies a lack of trust towards the US. Rumors speculate that Saudi Arabia might start using the Chinese Yuan, along with other multiple currencies, for selling oil in the future, challenging the dominance of the US dollar in the international market.
Source: YAHOO