3 weeks ago - 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.

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

3 weeks ago - Stories about the collapse of a longstanding “petrodollar” agreement between the U.S. and Saudi Arabia spread like wildfire on social media. But the...

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.

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

3 weeks ago - There's a fake news story that Saudi Arabia had a deal with the United States to use the dollar for all oil transactions

4 weeks ago - The Crown Prince of Saudi Arabia has made a monumental decision not to renew the 50-year-old petrodollar agreement with the United States.

2 days ago - 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

3 weeks ago - The US-Saudi Arabia petrodollar deal has ended after 50 years. Read on to learn about the history of the deal and what petrodollars are.

Answer (1 of 5): 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. ...

1 month ago - 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

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.

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' ...

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

A petrodollar agreement with the United States and Saudi Arabia has expired. As per reports, the Gulf nation has decided not to renew the deal that expired on June 9. The move can be seen as a global finance paradigm shift from the USD as a reserve currency. The termination of the deal may ...

Petrodollars are U.S. dollars earned from crude oil exports. Read about petrodollar recycling and the history of the petrodollar.

4 weeks ago - Saudi Arabia has decided to not renew the petrodollar agreement signed in 1974, under which it sold oil exclusively in US Dollar

2 weeks ago - The deal did not exclusively bind Saudi Arabia to deal in USD.

4 weeks ago - 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.