Saudi Arabia Considers Chinese Yuan Over U.S. Dollar

Objectivity 4.1 | Credibility 4.4 | Relevance 4.8

According to the Wall Street Journal, Saudi Arabia is engaging in negotiations with Chinese officials to price oil sales to China in yuan instead of the U.S. dollar. Reportedly, the Saudi talks with China have been off and on for six years but have recently begun to accelerate as Saudi leadership grows increasingly discontented with America. A Saudi official said, “The U.S. relationship with the Saudis has changed, China is the world’s biggest crude importer and they are offering many lucrative incentives to the kingdom.”