World Economic Stock - Petrodollar - stock photo

Saudi Riyal (SAR) In a significant geopolitical shift, Saudi Arabia has abandoned the petrodollar agreement, allowing oil trades in currencies other than the US dollar such as the Chinese Yuan, disrupting decades of economic tradition, potentially reshaping global trade dynamics and diminishing the dollar's dominance in the oil market. As the world adjusts to this monumental change, experts anticipate widespread economic implications and a redefined landscape for international energy transactions. Saudi Arabia's bold move signals a new era in global financial and political alliances.