Saudi Arabia is currently negotiating with China
Source, ajeezera

ken6488:
Saudi Arabia is currently negotiating with China

It’s not possible.
As much as the US needs saudi oil, they have plenty. Have u heard of fracking? Go and google it and see how much oil US get as reserves, even UK sef

Jondelng:


It’s not possible.
As much as the US needs saudi oil, they have plenty. Have u heard of fracking? Go and google it and see how much oil US get as reserves, even UK sef

What is not possible here... That Saudi wants to trade oil for yuan or that OPEC countries would dump dollar as oil trade instrument

Even Nigeria wants a currency swap deal with the Chinese

Jondelng:


It’s not possible.
As much as the US needs saudi oil, they have plenty. Have u heard of fracking? Go and google it and see how much oil US get as reserves, even UK sef

you seems not to understand the situation

No one said USA doesn't have oil, I guess you have not heard of petroldollar

What that means Saudi and OPEC can use the currency of their choice

Jondelng:


It’s not possible.
As much as the US needs saudi oil, they have plenty. Have u heard of fracking? Go and google it and see how much oil US get as reserves, even UK sef

You're missing the point. The US doesn't need Saudi oil, rather they need the Saudi's to keep selling their oil in dollar. That's what gives the dollar advantage over other currencies hence the term petrodollar.

Jondelng:


It’s not possible.
As much as the US needs saudi oil, they have plenty. Have u heard of fracking? Go and google it and see how much oil US get as reserves, even UK sef

Lol, people don't even know what America is. They think maybe the country is just marginally better than Nigeria and their greatness is propaganda.

Saudi and many countries saw what happened with Russia and want to move many of her foreign reserve to China and also want to start trading with China using Chinese money.


Iran already using Yen and Ruble since Iran was cut from SWIFT.
Iran and Russia trade with China have increased massive without Swift.

Even Japan with all the noise of Sanctions have refused to cut off the massive deal with Russia at Far East Russia.

This war will change the face of things forever

seunny4lif:
Saudi and many countries saw what happened with Russia and want to move many of her foreign reserve to China and also want to start trading with China using Chinese money.


Iran already using Yen and Ruble since Iran was cut from SWIFT.
Iran and Russia trade with China have increased massive without Swift.

Even Japan with all the noise of Sanctions have refused to cut off the massive deal with Russia at Far East Russia.

This war will change the face of things forever

exactly every country realised the dollar is way too powerful


So one day the USA can just wake up and end ur country economy

ken6488:
exactly every country realised the dollar is way too powerful


So one day the USA can just wake up and end ur country economy

Any country that don’t learn from this will completely get Bleep.

I’m expecting regime change in Saudi and UAE now
When Saddam and Gadaffi tried to change from Petrol-dollar, we all knew what happened.

seunny4lif:
Saudi and many countries saw what happened with Russia and want to move many of her foreign reserve to China and also want to start trading with China using Chinese money.


Iran already using Yen and Ruble since Iran was cut from SWIFT.
Iran and Russia trade with China have increased massive without Swift.

Even Japan with all the noise of Sanctions have refused to cut off the massive deal with Russia at Far East Russia.

This war will change the face of things forever

Dem wan use style, style bone U.S and him Dollar.

ken6488:
Saudi Arabia is currently negotiating with China
Source, ajeezera

Already happening. When you weaponize your currency to bully and truncate the economy of another, other state actors are taking notes and they know that one day, it could be their turn to suffer same fate. The United States courtesy of Let's Go Brandon have just sanctioned the death of the US Dollar via the petrol dollars. It's a gradual process but the death have already started.

seunny4lif:

Any country that don’t learn from this will completely get Bleep.

I’m expecting regime change in Saudi and UAE now
When Saddam and Gadaffi tried to change from Petrol-dollar, we all knew what happened.

that where Russia and china come in with military

seunny4lif:
Saudi and many countries saw what happened with Russia and want to move many of her foreign reserve to China and also want to start trading with China using Chinese money.


Iran already using Yen and Ruble since Iran was cut from SWIFT.
Iran and Russia trade with China have increased massive without Swift.

Even Japan with all the noise of Sanctions have refused to cut off the massive deal with Russia at Far East Russia.

This war will change the face of things forever

India is now onboard to buy Russian oil at slashed rates, and guess what currency: their own and Russian currency.

Obama wasn't wrong about Biden when he said "Never underestimate Joe's ability to fvck things up". Biden have just sanctioned the death of the petrol dollar.

It's game on.

Appleyard:


Already happening. When you weaponize your currency to bully and truncate the economy of another, other state actors are taking notes and they know that one day, it could be their turn to suffer same fate. The United States courtesy of Let's Go Brandon have just sanctioned the death of the US Dollar via the petrol dollars. It's a gradual process but the death have already started.

exactly every country realizes the dollar is too powerful usa can just distroy your economic

Saudi is just making noise because they want Biden to continue to support their war in Yemen. Dictators know better than to rely on each other.

Appleyard:


Already happening. When you weaponize your currency to bully and truncate the economy of another, other state actors are taking notes and they know that one day, it could be their turn to suffer same fate. The United States courtesy of Let's Go Brandon have just sanctioned the death of the US Dollar via the petrol dollars. It's a gradual process but the death have already started.

I hope it becomes official, we need a fvcking multipolar world. Enough of Western imperialism. Don't be surprised if this thread gets deleted.

Who are the dictators you are talking about?

Seun:
Saudi is just making noise because they want Biden to continue to support their war in Yemen. Dictators know better than to rely on each other.

I did not write the below answer. here is the link to read the answer on quora: https://qr.ae/pGLVkV

Why will China not join other nations in sanctioning Russia?
It is a Long Term Disaster for the Sanctioning Country

The Sanctioning Country loses Reputation

Countries like UAE and Saudi Arabia will be deeply vary of the United States and will not trust the US too much with their USD reserves.

UAE already agreed to sell to China under a RMB 430 Billion Currency Swap (Around $ 65 Billion) instead of USD since 2020

Asean Nations already trade with China to the tune of RMB 3.2 Trillion Currency Swaps

What it means is - CHina has already By Passed the USD and Euro in its trade with UAE & Asean Countries

China also bypassed the USD in Deals with:-

Iran - Energy Credit- Yuan Swaps
Sri Lanka - LKR-Yuan Swap for $ 5.7 Billion, Property Leases
Brazil - Yuan - Commodity Swaps
Argentina - Yuan - Commodity - BRI Finance Swaps
Chile - Yuan - Commodity Swaps
Russia - Energy Credit - Yuan- Commodity Swaps
Saudi Arabia and Central Asia are two other blocks with which China plans to reduce dependence on its trade by using Swaps over USD/EURO

Today China uses USD and Euros only in 31% of its Trade relying on 69% of its trade on Currency Swaps and Commodity Swaps and Energy Swaps.

Chinas Reputation may be Bad in the Political World but in the Financial and Business World - Chinas reputation is TOP CLASS.

Lets say China also Sanctions Russia

What does China gain?

Nothing. Its not as if Biden will shake Chinas hand and dance Gangnam Style and suddenly becomes Chinas latest Bestie.

What does China lose?

Reputation. Today Financial Entities still have huge awe of Chinas reputation in handling crises and ensuring high RORs. Investing in China is money in the Bank.

China could lose that crucial reputation.

Meanwhile

Lets say China doesnt Sanction Russia

What does China gain?

Russias Oil Contracts and Supply for 30 years which could leapfrog Chinas growth by 5–10 years.

Massive Reputation as the only Financially Stable Country in the World with such a huge sized economy.

What does China lose?

Almost nothing except a few Sanctions from US - that China is clearly prepared for. For $1 that China loses - US loses $ 5 or $ 6 and US Weakens in the long term.

Trump was on the way to making america self sufficient in energy. But Biden cancelled it, citing global warming

Jondelng:


It’s not possible.
As much as the US needs saudi oil, they have plenty. Have u heard of fracking? Go and google it and see how much oil US get as reserves, even UK sef

A new term is coming petroyuan

Asura:

You're missing the point. The US doesn't need Saudi oil, rather they need the Saudi's to keep selling their oil in dollar. That's what gives the dollar advantage over other currencies hence the term petrodollar.

Yay. The chinese are here

angelfallz:
Trump was on the way to making america self sufficient in energy. But Biden cancelled it, citing global warming

Global warming is real. You can decide to stick your head in the sand but doesn't make a problem go away

seunny4lif:

Any country that don’t learn from this will completely get Bleep.

I’m expecting regime change in Saudi and UAE now
When Saddam and Gadaffi tried to change from Petrol-dollar, we all knew what happened.

Of course, we saw what happened to Saddam and Qaddaffi, but this time, it's going to be a tough challenge for ths US to crack because, this is going to happen on multiple fronts, and right now, the US economy is in no shape to stage multiple military conflicts at a go.

Already, the Federal Reserve have raised interest rates due to risen inflation, and any further addition to that will spark public unrest which the Dems can't afford at the moment.

One thing I have discovered about this recent government is that it is lacking strategists. The inability of Biden and his team to separate realpolitiks from economics speaks volumes. How can you allow yourself to be pressured to ban Russian oil import when you know it would further increase the already rising cost of oil while you have no backup substitute for the short-term? It's so fvcking unbelievable.

Information making the rounds now is that members of the Federal Reserve are angry that they were not consulted before taking such actions, which is now telling on the economy via the rise in consumer goods.

They went to Maduro in the hope of getting him to turn against Russia, but it didn't work out, as much as I know.

They send delegates to Saudi Arabia and the UAE asking them to help by flooding the market with more volumes of crude, but both Middle Eastern countries gave them the middle fingers. How do you expect them to increase their outputs to lower the rising oil price when they are making so much money from the hike in prices? The US arrogance at times smirks of stupidity.

Now, out of shame, they can't revise the Russian oil ban anymore, except Biden we have to restart the Keystone Pipeline project and force a lower oil price globally. But that too will have to summount many political and .environmentalists hiccups which traditionally have stood against fracking.

Some countries sensing this have already started working around the clock to ensure that the price remain high for the time being. It wasn't much of a surprise that Qatar officials were in Russia to visit Putin. UAE and Russia foreign ministers just held a joint press conference on some irrelevant things, but we know what the real deal is: SOLIDARITY. Pakistan was there earlier. Now are you surprise that Russia is keeping the war in Ukraine so slow in achieving it's major objectives? THINK!

This is geopolitics at play and this time, the US has put itself on a very bad back pedal. Except something remarkable happens, we are witnessing the start of the collapse of the petrol dollar.

The Saudi people actually love the monarchy, so the US has not much it can do. If they try to do a regime change it would backfire spectacularly on them

seunny4lif:

Any country that don’t learn from this will completely get Bleep.

I’m expecting regime change in Saudi and UAE now
When Saddam and Gadaffi tried to change from Petrol-dollar, we all knew what happened.

Seun:
Saudi is just making noise because they want Biden to continue to support their war in Yemen. Dictators know better than to rely on each other.

That is Saudis game plan!

Nice comment

Appleyard:


Of course, we saw what happened to Saddam and Qaddaffi, but this time, it's going to be a tough challenge for ths US to crack because, this is going to happen on multiple fronts, and right now, the US economy is in no shape to stage multiple military conflicts at a go.

Already, the Federal Reserve have raised interest rates due to risen inflation, and any further addition to that will spark public unrest which the Dems can't afford at the moment.

One thing I have discovered about this recent government is that it is lacking strategists. The inability of Biden and his team to separate realpolitiks from economics speaks volumes. How can you allow yourself to be pressured to ban Russian oil import when you know it would further increase the already rising cost of oil while you have no backup substitute for the short-term? It's so fvcking unbelievable.

Information making the rounds now is that members of the Federal Reserve are angry that they were not consulted before taking such actions, which is now telling on the economy via the rise in consumer goods.

They went to Maduro in the hope of getting him to turn against Russia, but it didn't work out, as much as I know.

They send delegates to Saudi Arabia and the UAE asking them to help by flooding the market with more volumes of crude, but both Middle Eastern countries gave them the middle fingers. How do you expect them to increase their outputs to lower the rising oil price when they are making so much money from the hike in prices? The US arrogance at times smirks of stupidity.

Now, out of shame, they can't revise the Russian oil ban anymore, except Biden we have to restart the Keystone Pipeline project and force a lower oil price globally. But that too will have to summount many political and .environmentalists hiccups which traditionally have stood against fracking.

Some countries sensing this have already started working around the clock to ensure that the price remain high for the time being. It wasn't much of a surprise that Qatar officials were in Russia to visit Putin. UAE and Russia foreign ministers just held a joint press conference on some irrelevant things, but we know what the real deal is: SOLIDARITY. Pakistan was there earlier. Now are you surprise that Russia is keeping the war in Ukraine so slow in achieving it's major objectives? THINK!

This is geopolitics at play and this time, the US has put itself on a very bad back pedal. Except something remarkable happens, we are witnessing the start of the collapse of the petrol dollar.

Saudi will loose if it goes ahead with this because it already has a very skilled competitor that can replace it and change the terrain against Saudi in its backyard!
So let us see how it comes out!
Russia underestimated and it is now in a fix
Zelensky slacked and he is a mess
China has been cautious and has been holding strong
Us goofed
Let us see if Saudi will make a goof

Appleyard:


Of course, we saw what happened to Saddam and Qaddaffi, but this time, it's going to be a tough challenge for ths US to crack because, this is going to happen on multiple fronts, and right now, the US economy is in no shape to stage multiple military conflicts at a go.

Already, the Federal Reserve have raised interest rates due to risen inflation, and any further addition to that will spark public unrest which the Dems can't afford at the moment.

One thing I have discovered about this recent government is that it is lacking strategists. The inability of Biden and his team to separate realpolitiks from economics speaks volumes. How can you allow yourself to be pressured to ban Russian oil import when you know it would further increase the already rising cost of oil while you have no backup substitute for the short-term? It's so fvcking unbelievable.

Information making the rounds now is that members of the Federal Reserve are angry that they were not consulted before taking such actions, which is now telling on the economy via the rise in consumer goods.

They went to Maduro in the hope of getting him to turn against Russia, but it didn't work out, as much as I know.

They send delegates to Saudi Arabia and the UAE asking them to help by flooding the market with more volumes of crude, but both Middle Eastern countries gave them the middle fingers. How do you expect them to increase their outputs to lower the rising oil price when they are making so much money from the hike in prices? The US arrogance at times smirks of stupidity.

Now, out of shame, they can't revise the Russian oil ban anymore, except Biden we have to restart the Keystone Pipeline project and force a lower oil price globally. But that too will have to summount many political and .environmentalists hiccups which traditionally have stood against fracking.

Some countries sensing this have already started working around the clock to ensure that the price remain high for the time being. It wasn't much of a surprise that Qatar officials were in Russia to visit Putin. UAE and Russia foreign ministers just held a joint press conference on some irrelevant things, but we know what the real deal is: SOLIDARITY. Pakistan was there earlier. Now are you surprise that Russia is keeping the war in Ukraine so slow in achieving it's major objectives? THINK!

This is geopolitics at play and this time, the US has put itself on a very bad back pedal. Except something remarkable happens, we are witnessing the start of the collapse of the petrol dollar.

When you know nothing about the oil industry but decides to comment anyways

The Keystone is not an oilfield. it's a pipeline..The oil is continuing to flow in from Canada, just through other means (Rail and Trucks). So, it actually would have nothing do with the current supply imbalance or prices.

baralatie:
Saudi will loose if it goes ahead with this because it already has a very skilled competitor that can replace it and change the terrain against Saudi in its backyard!
So let us see how it comes out!
Russia underestimated and it is now in a fix
Zelensky slacked and he is a mess
China has been cautious and has been holding strong
Us goofed
Let us see if Saudi will make a goof

China just like India are just mopping off the awoof and cheap oil from Russia. They are opportunist.

Nothing can replace dollar unless American economy collapse

And that won't happen

America is a working system

chopnaira:

When you know nothing about the oil industry but decides to comment anyways

The Keystone is not an oilfield. it's a pipeline..The oil is continuing to flow in from Canada, just through other means (Rail and Trucks). So, it actually would have nothing do with the current supply imbalance or prices.

I know that the Keystone is a pipeline and I did mention it. Pipelines vs trucks? Is a huge difference in balance and imbalance. otherwise no one would be talking about the damn pipeline.

sapientia:
Nothing can replace dollar unless American economy collapse

And that won't happen

America is a working system

China won't invade Taiwan just as Russia invaded Ukraine. Unlike Putin, Xi is not stupid.