S Arabia to receive payments in the Yuan: the dollar threatened?
It might appear to be just a simple switch when it comes to currency, from dollars to the Yuan, or the renminbi, but it is a very significant deal. Saudi Arabia is considering pricing some of its oil sales in yuan rather than dollar.
The ramifications of this would threaten the supremacy of the dollar. This comes amid uncertain times for Saudi Arabias relationship with the West, in particular the US, and the UK.
The British PM was forced to travel to Saudi Arabia and the UAE to see what it can do to shore up oil production.
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