A diplomat – The petro-yuan may replace the petrodollar as a result of next China-Arab Summit

A top Saudi diplomat refused to mention its name said, ” since the accident of the Saudi journalist Jamal Khashoggi and the Saudi Crown Prince Mohamed bin Salman Was accused of his death by the USA and the European Union, Saudi Arabia thinks of taking revenge in the nearest time..Since then, active talks with Beijing and Russia to price some of its oil sales to China in yuan.”.

The top Saudi diplomat who is familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia. The talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom of Saudi Arabia.