Saudi Considers Yuan For Oil
This is a game changer! Sputnik March 16, 2022
Saudi Arabia’s Crown Prince Mohammed bin Salman Invites China’s Xi to Visit Kingdom amid Strained US Relations. It appears that the Saudis no longer care much about US “security guarantees” and instead are switching their allegiance to China. Trip could happen as soon as May as alliances shift in the Middle East and Washington’s regional partners seek out new security and economic ties.
According to various reports, talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old US security commitments to defend the kingdom.
The dynamics have dramatically changed. The US relationship with the Saudis has changed: China is the world’s biggest crude importer and they are offering many lucrative incentives to the kingdom.
China buys more than 25% of the oil that Saudi Arabia exports and if priced in yuan, those sales would boost the standing of the yuan and set the Chinese currency on a path to becoming a global petroyuan reserve currency.
The news comes after the rulers of Saudi Arabia and the United Arab Emirates both refused to answer phone calls from the White House. In an interview with The Atlantic earlier this month, the Saudi Crown Prince told the magazine “Simply, I do not care” whether Biden understands him or not. “It’s up to him to think about the interests of America. Go for it.”
“All your lovers have forgotten you; they no longer care for you anymore. I have wounded you as an enemy would. I have punished you as the cruel would, because your guilt is so great, because your sins are so many” Jeremiah 30:14.
All thy friends have forgotten thee; they shall not ask about thee at all, for I have smitten thee with he stroke of an enemy, even severe correction: thy sins have abounded above all thine iniquity. Septuagint Brenton Translation
The Mystery of Ephraim 