June 14, 2024 - 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.

June 17, 2024 - However, it did not require Saudi to use dollars for oil sales. Nor do any declassified records indicate an end date. So, what was the 1974 treaty about? A simplistic summary is that the United States agreed to sell Saudi Arabia high tech weapons. In return, Saudi Arabia agreed to invest excess ...

June 17, 2024 - Saudi Arabia has decided not to renew its 50-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.

Following this announcement fake news was circulated that this coincided with a "US-Saudi Arabia 50-year petro-dollar deal that expired" but this is untrue as per further reporting by several sources including Ledger Insights, Market Watch and UBS shows.

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. This agreement, first established in 1974, required oil sales from Saudi Arabia to be conducted exclusively in US dollars.

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.

June 17, 2024 - There was an agreement signed in June of 1974, but it had nothing to do with currencies because the Saudis carried on selling in sterling after that,” Donovan noted in an interview with MarketWatch. The agreement referred to by Donovan is the United States-Saudi Arabian Joint Commission on ...

June 12, 2024 - The deal, which expired on Sunday 9 June, was a cornerstone of the United States global economic dominance. 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.

June 21, 2024 - There is no official agreement between the United States and Saudi Arabia to sell oil in US dollars. · As countries from the BRICS group and regions including the Middle East and Asia increase the use of local currencies for cross-border payments, there is a growing perception that the dollar’s ...

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. ...

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 ...

Exporters accepted dollars because ... the currency of international trade and finance. The alliance between the U.S. and Saudi Arabia set the terms for the reinvestment of Saudi petrodollars in U.S. Treasurys in 1974 and for U.S.-run development projects in Saudi Arabia ...

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 13, 2024 - Saudi Arabia is rumoured to be dropping the US dollar for the Chinese yuan, but are the reports correct?

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 ...

July 21, 2024 - “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.

June 13, 2024 - 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

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.

August 15, 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

June 13, 2024 - The economic wheels of motion are turning and the U.S. is sleepwalking toward world war.