🌍💱 BREAKING: SAUDI ARABIA ENDS 80-YEAR PETRODOLLAR DEAL WITH U.S. 🌍

📢 Summary:

- Saudi Arabia terminates historic 80-year petrodollar deal with the US

- Original deal mandated Saudi oil sales in US dollars exclusively

- Now free to transact in other major currencies like RMB, Euros, etc.

💡 Saudi Arabia has decided not to renew its longstanding petrodollar agreement with the United States, which officially expired on June 9th, marking a pivotal shift in global economic dynamics. Initially established in 1974, this landmark deal played a crucial role in cementing US economic supremacy worldwide.

🔍 Background:

The original agreement fostered joint economic cooperation and addressed Saudi Arabia's military requirements. It was strategically aimed at incentivizing increased oil production and strengthening economic ties with Arab nations.

🔄 Policy Shift:

By opting out of the contract, Saudi Arabia gains flexibility to conduct transactions in currencies beyond the US dollar, including the Chinese RMB, Euros, Yen, and Yuan. Speculation also surrounds the potential adoption of digital currencies like Bitcoin for future transactions.

🌐 Broader Impact:

This decision marks a significant departure from the established petrodollar system, which originated in 1972 when the US moved away from the gold standard. It underscores Saudi Arabia's evolving approach to global economic relations.

🔗 Project mBridge:

Additionally, Saudi Arabia has joined Project #mBridge, a collaborative effort exploring a digital currency platform shared among central and commercial banks. This initiative aims to streamline cross-border payments and foreign exchange transactions using cutting-edge blockchain technology.

💭 Conclusion:

Saudi Arabia's move to end the petrodollar agreement signals a transformative shift in global economic dynamics, potentially reshaping the balance of economic influence worldwide.

👇 What are your thoughts on Saudi Arabia's pivot away from the Dollar? Imagine the impact if Saudi Arabia embraces #Bitcoin? $SOL $ETH