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Can Saudi Arabia switch from the US dollar to the Chinese yuan?
Oil transactions between Saudi Arabia and China could be denominated in the Chinese yuan, a significant development in the evolving international economic and geopolitical landscape. If this move happens, it could have far-reaching implications for the US dollar’s status as the dominant global currency, as well as for US-Saudi relations and broader regional dynamics in…
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Riyadh-Tehran reconciliation sponsored by Beijing, what next?
Iran and Saudi Arabia, longtime regional rivals, have agreed to resume friendly diplomatic relations and reopen their embassies after Chinese-led negotiations in Beijing. The two governments announced the agreement via their respective state media agencies and China’s Xinhua News Agency.