2 weeks ago - The embargo was lifted in March 1974 after the U.S. pressured Israel into negotiating with Syria over the Golan Heights. Three months later, "Washington and Riyadh signed a wide-ranging agreement on expanded economic and military cooperation." In the 1975 fiscal year, the two countries signed $2 billion worth of military contracts, including an agreement to send Saudi Arabia 60 fighter jets. A key part of the agreement was for Saudi to price oil in terms of dollars...

June 14, 2024 - HomeworldWhat is the US-Saudi 'petrodollars' deal that lapsed on June 9?The US-Saudi Petrodollar deal established on 8th of June 1974 was an agreement through which Saudi Arabia agreed to trade crude oil in US dollars in exchange for military equipment and assistance from the US.

June 13, 2024 - Saudi Arabia decided not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024.

This indicates that there was no requirement for transactions to be conducted exclusively in U.S. dollars.A more secretive arrangement emerged later in 1974, where Saudi Arabia agreed to invest heavily in U.S. Treasurys in exchange for military support. However, this was not the "petrodollar pact" ...

June 22, 2024 - The Atlantic Council is speculated what could happen to the dollar if a long-standing accord with Saudi Arabia dissolves.

But US opposition was not limited to vetoing theoretical IMF-led recycling schemes. Taking into consideration Saudi Arabia, soon to emerge as the single largest holder of petrodollars, Ahmed Banafe and Rory McLeod explain that · [i]n early 1974, [SAMA governor] Anwar Ali had been in a difficult ...

July 25, 2024 - The idea of the Petrodollar arose from a joint agreement in 1974 between the US and Saudi Arabia, but is there any truth behind the rumour?

June 28, 2024 - Take your personal data back with Incogni - use code BAGEL at the link below and get 60% off an annual plan ➡️ http://incogni.com/bagel00:00:00 - Introductio...

December 12, 2022 - Xi Jinping's proposal to settle energy trade with Gulf Arab nations in Chinese yuan may be a signal of things to come.

He knows the profit is higher on petrochemicals and that the Saudis get more from the companies in everything. We won’t be in a position to confront the producers before the middle of 1975. We have got to get rolling.” (Ford Library, National Security Adviser, Memoranda of Conversations, Box 5) The memorandum of conversation is printed in full in Foreign Relations, 1969–1976, volume XXXVII, Energy Crisis, 1974...

June 14, 2024 - The petrodollar quietly died this week. While it didn't get big headlines, the demise of the petrodollar could mean big trouble for a U.S.

The financial world is bracing for a significant upheaval following Saudi Arabia's decision not to renew its 50-year petro-dollar deal with the United States, which …

The established financial world order of the past 50 years is now transitioning to a new and unknown paradigm as the petrodollar agreement between the U.S. and Saudi Arabia was allowed to expire this past Sunday. The term ‘petrodollar’ described the U.S. dollar’s (USD) role as the currency ...

April 8, 2024 - **The End of the Petrodollar Agreement and its Impact on Bitcoin and altcoin** Today, June 9, 2024, marks a pivotal moment in the global economy: the end of the Petrodollars agreement between the Uni

June 19, 2024 - The kingdom is finalising a defence treaty with the US, which is part of a broader package, reports say

February 27, 2023 - One of the most illusory phenomena in our current existence is the money we use for buying, selling and hoarding on a daily basis. It is, to put it simply,...

Carla Norrlöf considers whether Saudi Arabia would ever move away from invoicing its oil trade in US dollars.

June 17, 2024 - Reports of Saudi Arabia ending petrodollar deal sparked online discussions about the potential decline of the dollar as the world's reserve currency.

You have asked for a gross number which could represent a fair settlement between the Saudi government and ARAMCO on compensation for the agreed Saudi share of participation in ARAMCO. The two [Page 338] criteria for such a number are (a) that it be enough above net book value to satisfy the ...

January 12, 2024 - While most investors were fixated on Jerome Powell & Co. this week, trying to gauge the Federal Reserve’s next moves in light of recent bank failures, something interesting occurred in Moscow.