Saudi Crown Prince Mohammed Bin Salman stands with Chinese President Xi Jinping in Riyadh, Saudi Arabia December 8, 2022. Saudi Press Agency/Handout via REUTERS
Reuters: China’s Xi Calls for Oil Trade in Yuan at Gulf Summit in Riyadh
RIYADH (Reuters) -President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing’s goal to establish its currency internationally and weaken the U.S. dollar’s grip on world trade.
Xi was speaking in Saudi Arabia where Crown Prince Mohammed bin Salman hosted two “milestone” Arab summits with the Chinese leader which showcased the powerful prince’s regional heft as he courts partnerships beyond close historic ties with the West.
Top oil exporter Saudi Arabia and economic giant China both sent strong messages during Xi’s visit on “non-interference” at a time when Riyadh’s relationship with Washington has been tested over human rights, energy policy and Russia.
Read more ….
WNU Editor: Another sign that the era of the petrodollar is coming to an end.
Chinese President Xi Jinping Told Gulf Arab Leaders That China Will Develop The Mechanism To Buy Oil And Gas In Yuan
China’s Xi vows to buy more Mideast oil as US focus wanes — SCMP
Gulf Arab states draw closer to China as Xi visits Riyadh — Financial Times
China’s Xi vows to buy more Mideast oil as US focus wanes — AP
China And Saudi Arabia Agree To Boost Oil Trade As Xi Visits Riyadh — OilPrice/com
China to use Shanghai exchange for yuan energy deals with Gulf nations – Xi — Reuters
Chinese President Invites Saudi King to Visit China – Saudi State TV — Reuters