Commenting on the entry into BRICS of Saudi Arabia, an editorial by Al-Monitor, authored by its foreign affairs correspondent Sabena Siddiqui, argues that concerns about the U.S. dollar’s dominance are not justified. She notes: Oil transactions between China and the Gulf may be settled in Chinese currency, but experts do not foresee an end to …
“Concerns about the U.S. dollar’s dominance are not justified” Read More »
Dr. Samuel Ramani, a researcher in international relations at Oxford University, RUSI associate fellow and author of “Russia in Africa” discusses whether Saudi Arabia is abandoning the West. In particular, he comments how “Saudi Arabia is set to join the Shanghai Cooperation Organization”, as this means that “the most immediate consequence is tighter cooperation between …
Tighter cooperation emerges between China and Saudi Arabia Read More »
At a visit to Saudi Arabia, Chinese President Xi Jinping told Gulf Arab leaders that China would work to buy oil and gas in yuan. According to Reuters, this is “a move that would support Beijing’s goal to establish its currency internationally and weaken the U.S. dollar’s grip on world trade.” President Xi Jinping told …
A closer look at China’s pledge to work to buy oil and gas in yuan Read More »