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Saudi Arabia is in talks with China to accept some foreign oil purchases in the Chinese yuan instead of US dollars.

This news comes as China continues to focus on making the yuan more tradable in the international oil market. In addition, China is seizing the opportunity to strengthen relationships with Saudi Arabia as the US/Saudi relations become strained over a wide range of issues including the assassination of journalist Jamal Khashoggi and the Saudi war in Yemen.

The Wall Street Journal also adds that “the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom”.


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