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India Today
indiatoday.in › news › business › saudi arabia ends 80-year petrodollar deal with us
Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales - India Today
2 days ago - Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports. This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence. The deal set up joint commissions for economic ...
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Firstpost
firstpost.com › home › explainers › what was the us-saudi petrodollar deal that lapsed after 50 years?
What was the US-Saudi petrodollar deal that lapsed after 50 years? – Firstpost
1 day ago - Petrodollars are US dollars exchanged for crude oil exports. The deal, which was struck between Saudi Arabia and the United States in 1974 in the aftermath of an oil crisis, allowed Washington a steady flow of crude and a market to buy its debt while the Kingdom would get military aid and equipment.
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Bloomberg
bloomberg.com › news › features › 2016-05-30 › the-untold-story-behind-saudi-arabia-s-41-year-u-s-debt-secret
The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret - Bloomberg
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.
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The Business Standard
tbsnews.net › home › world+biz › global economy
Saudi Arabia's petro-dollar exit: A global finance paradigm shift | The Business Standard
3 days ago - Originally signed on 8 June 1974, the deal established two joint commissions, one based on economic cooperation and the other on Saudi Arabia's military needs. At the time, it was said that it heralded an era of close cooperation between the two countries, says Katja Hamilton of BizCommunity.
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The Cradle
thecradle.co › articles-id › 608
The historic US-Saudi relationship cannot bounce back
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.
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NYTimes
nytimes.com › 1974 › 06 › 09 › archives › milestone-pact-is-signed-by-us-and-saudi-arabia-acclaimed-by.html
‘MILESTONE’ PACT IS SIGNED BY U.S. AND SAUDI ARABIA - The New York Times
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' ...

Petrodollar recycling

international spending or investment of a country's revenues from petroleum exports

Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). It generally refers to the phenomenon of major petroleum-exporting states, mainly the OPEC members plus Russia and Norway, earning more money from the export of ... Wikipedia
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Wikipedia
en.wikipedia.org › wiki › Petrodollar_recycling
Petrodollar recycling - Wikipedia
1 day 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
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The New Arab
newarab.com › news › saudi-arabia-about-drop-petrodollar-chinese-yuan
Is Saudi Arabia about to drop the petrodollar for Chinese yuan?
... "Saudi Arabia's 50-year-old petrodollar agreement with the United States has expired, with no new agreement in place," BRICS News tweeted. "Saudi Arabia will now sell oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead ofexclusively in US dollars."
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India Today
indiatoday.in › news › business › us-saudi petrodollar deal ends after 80 years: what are petrodollars?
US-Saudi petrodollar deal ends after 80 years: What are petrodollars? - India Today
1 day ago - In 1974, amid an oil crisis and skyrocketing prices due to OPEC sanctions, the US and Saudi Arabia struck a crucial deal. The US agreed to buy oil from Saudi Arabia and provide military aid and equipment, while the Saudis would invest their petrodollar revenue back into the US economy.
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WION
wionews.com › world › saudi-arabias-petrodollar-deal-with-us-expired-with-no-new-agreement-in-place-731514
Saudi Arabia's petrodollar deal with US expires with no new agreement in place - World News
The petrodollar system was signed in 1974 as a result of a bilateral agreement between the US and Saudi Arabia. Both nations decided to price and trade oil in US dollars. With oil standardised in terms of dollars, every country purchasing oil from Saudi Arabia would be required to pay in dollars.
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OpIndia News
opindia.com › home › news reports › saudi arabia stops selling oil exclusively in us dollar: as 50-year-old us-saudi petrodollar agreement...
50-year-old Petrodollar Agreement expires, Saudi Arabia stops selling oil exclusively in US Dollar
2 days ago - Recently, a 50-year-old petrodollar pact between Saudi Arabia and the United States expired and Saudi Arabia has opted not to renew it. The shift of base currency is going to have longlasting implications for the global economy. The decision made by Saudi Arabia marks a significant departure ...
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Investopedia
investopedia.com › articles › forex › 072915 › how-petrodollars-affect-us-dollar.asp
How Petrodollars Affect the U.S. Dollar
Exporters accepted dollars because ... Growing mutual dependence led to deals between the U.S. and Saudi Arabia setting the terms for the reinvestment of Saudi petrodollars in U.S. Treasuries in 1974 and for U.S.-run development projects in Saudi Arabia in 1979....
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Cointribune
cointribune.com › home › news › finance news › from petrodollar to petrobitcoin
From petrodollar to petrobitcoin - Cointribune
3 days ago - Saudi Arabia has reportedly decided "not to renew its 50-year agreement on the petrodollar." Could the petrobitcoin be next?
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Firstpost
firstpost.com › home › explainers › what was the us-saudi petrodollar deal that lapsed after 80 years?
What was the US-Saudi petrodollar deal that lapsed after 80 years? – Firstpost
2 days 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.
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Binance
binance.com › en › square › post › 9057583404610
Saudi Arabia, led by Crown Prince just one click free ustd
Binance is the largest cryptocurrency exchange by trading volume, serving 185M+ users across 180+ countries. With over 350 listed Altcoins, it is the world’s leading crypto exchange.
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Nasdaq
nasdaq.com › articles › us-saudi-petrodollar-pact-ends-after-50-years
U.S.-Saudi Petrodollar Pact Ends after 50 Years | Nasdaq
The 50-year-old petrodollar agreement between the U.S. and Saudi Arabia was just allowed to expire. The term "petrodollar" refers to the U.S. dollar’s role as the currency used for crude oil transactions on the world market. This arrangement has its roots in the 1970s when the United States ...
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TimelineDaily
timelinedaily.com › west-asia › has-saudi-arabia-exited-the-petro-dollar-deal-with-us-future-of-international-transactions
Has Saudi Arabia Exited The Petro-Dollar Deal With US?: Future Of International Transactions | TimelineDaily
2 days ago - Petro-dollar Petro-dollar Deal Refusal Renew Saudi Arabia Saudi-US Petro-Dollar Deal United States West Asia June 9, 2024, marks a historic day as the Kingdom of Saudi Ar