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Saudi Arabia takes a bold step towards the US dollar! 😱In a shocking decision that could reshape global economic dynamics, Saudi Arabia has decided not to renew its 50-year-old “petrodollar” agreement with the United States. This means the Kingdom will now sell its oil in multiple currencies, including the Chinese RMB, Euro, Yen and Yuan, rather than just the US dollar.#USDollarWarning The move marks a significant shift in the long-standing relationship between Saudi Arabia and the United States, with the "petro-dollar" system having been the cornerstone of global oil trade since 1974. The move could potentially weaken the dominance of the dollar in international trade and finance. From the United States,#currencyhas been the primary means of exchange for oil transactions for decades.

The consequences of this decision are considerable and could have a profound impact on the global economy as well as the geopolitical landscape. Given China's growing influence in the Middle East and its efforts to internationalize the RMB, the move can be seen as a strategic alignment between Saudi Arabia and China.

As the world follows this development, time will tell how the United States responds to this change and what the long-term consequences will be for the global financial system. One thing is clear: the world is changing, and the role of the U.S. dollar in global trade is no longer as dominant as it once was.

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