Saudi minister announces country’s readiness to pay for oil not only in US dollars
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Saudi Arabia is open to discussing oil and gas trade settlements in currencies other than the US dollar, Saudi Finance Minister Mohammed Al-Jadaan said. The Kingdom, in particular, is ready to consider the possibility of trading operations with settlements in euros and Saudi rials.
“There is no problem discussing in what currency we implement our trade agreements, whether it is US dollars, euros or Saudi riyals,” Mr. Al-Jadaan said in an interview. Bloomberg forum in Davos. He stressed that Saudi Arabia does not rule out a discussion on ways to improve global trade.
In December 2022, Chinese President Xi Jinping visited Saudi Arabia. Then the Chinese leader offered to intensify the use of the yuan in energy transactions, as well as to use the Shanghai Exchange for trade settlements. Parties signed agreement on investment in the economy of the Arab country $ 50 billion.
Read more about the energy cooperation between China and Saudi Arabia – in the material “Kommersant” “No one is eternal under China”.
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