End of Dollar Dominance: China Begins Global Dedollarisation Campaign? | China Arab Summit. Saudi Arabia has traded its oil exclusively using the US dollar since 1974. That was the year Riyadh signed a deal with the United States to use only the dollar for oil trade in exchange for solid security guarantees. This marks the birth of the petrodollar. This further strengthened the dollar’s status as a reserve currency. Today, the dollar’s tight grip on global trade, and its status as the world’s reserve currency is being viewed with increasing suspicion by a host of countries. Watch to know more.
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Saudi Arabia | China | Saudi China Ties | Xi Jinping Saudi Arabia Visit | Riyadh | China Arab Summit | Beijing | Mohammad Bin Salman | US Saudi Arabia | Joe Biden Saudi Arabia | India | Russia | Petrodollar| Saudi Oil | US Dollar | Joe Biden | Vladimir Putin | Geopolitics | Latest News | International News | Firstpost
#china #saudiarabia #usa #arab #xijinping #ccp #russia #oil #energy #petrodollar #money #dollar #trade #joebiden | n18oc_world
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