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 - 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.

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 ...

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.

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 ...

In June of 2024, a news story made headlines claiming that Saudi Arabia failed to renew a secret 50-year deal with the U.S. to keep oil priced in dollars, which was not entirely accurate. It is true that the U.S. and Saudi Arabia established a Joint Commission for economic cooperation in June 1974, ...

8 hours 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

June 13, 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.

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.

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.

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. ...

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June 13, 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.

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 ...

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' ...

June 12, 2024 - Saudi Arabia has reportedly decided "not to renew its 50-year agreement on the petrodollar." Could the petrobitcoin be next?

June 13, 2024 - Saudi Arabia has decided to not renew the petrodollar agreement signed in 1974, under which it sold oil exclusively in US Dollar

June 17, 2024 - 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.

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