Saudi Arabia threatens to ditch dollar oil trades

Saudi Arabia threatens to ditch dollar oil trades

Saudi Arabia is threatening to sell its oil in currencies other than the dollar. Sources indicate the kingdom plans to do so if Washington passes a bill exposing OPEC members to US antitrust lawsuits. The chances of the US bill, known as NOPEC, coming into force are slim and Saudi Arabia would be unlikely to follow through.

Danny Mcgrath
Danny Mcgrath 1 year

I really wish they did. Just look at what happened to all other states in the region that threatened U.S interests in the region. The Saudis should be the primary enemy in the ME. Their oil is all that keeps them from destruction. This state doesn't deserve to exist.

MacrossMX 1 year

Looks like we got another country who wants to be in John Bolton's hit list. Alternatively, this is a good opportunity to adopt the Green New Deal and set up a long term plan to start investing in alternative energy before Saudi Arabia seriously decide to stop doing oil trade with US dollars. If the oil crises of 1973 and 1979 taught us anything, is that our dependency on Middle East oil specifically OPEC oil can really cripple us if they decide that the US no no longer worth giving preferable treatment or flat out stop exporting oil to us because of actions they disagree with like say pushing legislation condemning Saudi Arabia for the genocidal campaign over Yemen. We may need to push for the Green New Deal. If not for combating climate change, at the very least prevent Saudi Arabia from castrating us if we decide to go against their policy.

Julian 1 year

Saudi Arabia is our worst “ally”

FirstCensorshipThenJail 1 year

Not a friend, not an Ally, not a business partner. The Uma is a cancer on the civilized world that has been attacking the United States since the very beginning of the nation. It is well past time to extract completely the United States from the Islamic world. The Umas' agenda is world domination. Having the United States act as their mercenary army and the CIA as their secret police is a ridiculous foreign policy strategy. How Kissinger sold that load of foreign policy cow manure is beyond me. Time to shift from the policies of exploration to hard nose no words of warning enforcement. Time to end this charade and start living in the real world. Kissinger was wrong about everything. There is no peace possible when dealing with cult members that have no free will and are brainwashed into hating you starting as young children.

david dindu
david dindu 1 year

looks like we gonna bring freedom to saudi arabia

CoLpOeSnED 1 year

Watch how politicians on BOTH sides will fold to the Saudi government's demands. What an infestation money is on democracy.

Hannibal 1 year

Nearly half their oil goes to East Asia anyway. We only import 8% of their crude and that number continues to dwindle with the shale boom. Let China, Korea, and Japan figure it out. The ME is fast receding into insignificance for the US.

Akira Kevin
Akira Kevin 1 year

Shiit, maybe they'll switch to crypto. wouldn't that be amazing.

M.Twain 1 year

GM, Saudi is a friend and business partner of Trump and his family.

James Sanford (Retroambassador)
James Sanford (Retroambassador) 1 year

gotta love corruption and anti trust violations running the world into the ground

MT144 1 year

oh I think there will be a sudden regime change in Saudi. suddenly US will realize that they are not a democracy. And nothing of value will be lost.

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