June 14, 2024 - Petrodollars are US dollars exchanged for crude oil exports. The deal, struck between Saudi Arabia and the United States in 1974 in the aftermath of an oil crisis, allowed the Washington a steady flow of crude and a market to buy its debt while the Kingdom would get military aid and equipment.

June 17, 2024 - There's a fake news story that Saudi Arabia had a deal with the United States to use the dollar for all oil transactions

June 21, 2024 - Saudi Arabia approaches the petrodollar remains an important harbinger of the financial future to come.

June 17, 2024 - The petrodollar deal was originally signed on June 8, 1974, and was a key part of US global economic influence.

May 30, 2016 - How a legendary bond trader from Salomon Brothers brokered a do-or-die deal that reshaped U.S.-Saudi relations for generations.

Answer (1 of 6): I am sure the US saw it coming, decades ago. That is why they invented Tesla and pivoted to Electric and renewable energy. CEER Foxconn: A Saudi Electric Vehicle: Saudi ambition is to become a global player in the market Lucid An American firm is also co-owned by Saudi Royal. ...

“The Petrodollar Agreement between the United States and Saudi Arabia expired and Saudi Arabia announced on June 9 that it would not renew it. The agreement, reached in 1974, closely linked the U.S.

August 21, 2024 - The Crown Prince of Saudi Arabia has made a monumental decision not to renew the 50-year-old petrodollar agreement with the United States.

We examine the rise of petrodollars and their influence on the USD as a global reserve currency.

March 21, 2022 - In 1974, Washington and Riyadh struck a deal by which Saudi Arabia could buy US treasury bills before they were auctioned. In return, Saudi Arabia would sell its oil in dollars.

ChAI: Saudi Arabia decides not to renew the informal 50-year petrodollar agreement with the USA this week.

June 9, 1974 - US and Saudi Arabia on June 8 sign wide-ranging mil and econ agreement; Sec Kissinger and Deputy Premier Prince Fahd Ibn Abdel Aziz sign agreement; Kissinger says accord is 'milestone' in US relations with Saudi Arabia and with Arab countries in general; Fahd says accord is 'excellent opening' ...

November 10, 2024 - German vehicle factory for Daimler, whose largest consistent shareholder since 1974 has been Kuwait · Itaipu Dam between Brazil and Paraguay, financed by loans from petrodollar bank deposits in the 1970s · Pakistan's Faisal Mosque, constructed 1976–1986, a gift from Saudi Arabia's King Faisal

US imports of Saudi oil are at historic lows, Chinese purchases of Saudi oil continue to grow, and Russian-Saudi energy interests have fully converged. If it's 'all about the economy,' then Saudi-US ties may never quite recover.

Saudi Arabia has announced its involvement in Project mBridge...

August 6, 2024 - An economic cooperation agreement between oil-rich Saudi Arabia and the United States signed in 1974 was not limited to 50 years, contrary to Chinese social media posts that falsely claimed the "petrodollar deal" had expired and would not be renewed. The posts circulated against the backdrop ...

June 12, 2024 - The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered

June 14, 2024 - Petro-dollar Petro-dollar Deal Refusal Renew Saudi Arabia Saudi Arabia Petro Dollar Saudi Arabia Petrodollar Saudi Arabia Petrodollar Agreement Saudi Petrodollar Deal Sau

Is Saudi Arabia abandoning the U.S. dollar for its oil sales? A June 13 X post that purported to show "breaking news" cl

June 12, 2024 - 485 votes, 306 comments. 4.9M subscribers in the Economics community. Reddit's largest economics community. Serving as a central forum for users to…