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3 ημέρες πριν · The Decline and Fall of the Petrodollar? Jul 5, 2024 Carla Norrlöf. Although Saudi Arabia has been pricing its oil exports in US dollars for decades, there has been recent speculation that the country's leaders may be considering a change. What would that mean for US financial and monetary hegemony? GENEVA – Could changes to the longstanding ...
2 ημέρες πριν · While there was never a formal petrodollar pact, it is widely believed that the U.S. and Saudi Arabia had a handshake agreement to meet each other’s needs. Saudi Arabia was encouraged to invest ...
3 ημέρες πριν · A potential security deal between the United States and Saudi Arabia is raising eyebrows in the financial world, with some analysts suggesting it could significantly impact the future of the petrodollar.
4 ημέρες πριν · Saudi Arabia was encouraged to invest its surplus dollars in safe, high-yielding U.S. Treasury securities. In exchange, the U.S. would sell Saudi Arabia military equipment. Both hoped a better relationship would be a productive byproduct. Such is the petrodollar agreement. The Petrodollar Was Not Really About The Dollar. We think the ...
5 ημέρες πριν · The petrodollar system, inaugurated in 1974, has long been a linchpin of global finance and geopolitics. Established through an agreement between the United States and Saudi Arabia, it...
5 ημέρες πριν · The arrangement is rooted in a secret 1974 deal between Saudi Arabia and the US: the Saudis would recycle their petrodollars in US Treasuries in exchange for an American security guarantee, thus creating a strategic alliance that has shaped global politics for decades.
4 ώρες πριν · This political behavior is particularly distinct among prominent oil-producing countries such as Saudi Arabia that uses its petrodollar as leverage in its regional and global relations. Saudis do this through such regional organizations as the Gulf Cooperation Council (GCC), Arab League, and the Organization of the Islamic Conference (OIC), or ...
