New Delhi, August 3, 2022: The Western media was recently awash with news of US president Joe Biden rebuking Saudi crown prince Mohammad bin Salman for his role in the murder of columnist Jamal Khashoggi back in 2018.
While Biden was officially in Jeddah to reboot America’s strained relations with its long-term partner Saudi Arabia, the dots are easy to connect. His visit came in the backdrop of a strange Saudi decision that promises to weaken the unfair clout that the US currency has been enjoying for decades in the form of the ‘petrodollar’.
In mid-March, the Saudi palace declared that it was soon going to sell crude oil to China in yuan instead of US dollars. The government in Riyadh said it was in talks with Beijing regarding how soon the changeover in currency can be carried out.
It might not seem like a big deal, but in the…
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