World News@lemmy.worldEnglish · 8 months ago

Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales

www.indiatoday.in

Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales

www.indiatoday.in

schizoidman@lemmy.ml to

World News@lemmy.worldEnglish · 8 months ago

The petrodollar deal was originally signed on June 8, 1974, and was a key part of US global economic influence.

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8 months ago
There is also a practical matter of buying investments from countries like China, India or the EU in their currency without having the US take a cut.

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