Saudi Arabia considers accepting yuan instead of dollars for crude oil sales to China: reports – Roya News English

Saudi Arabia considers accepting yuan instead of dollars for crude oil sales to China: reports – Roya News English

Saudi Arabia is reportedly considering accepting the Chinese yuan instead of the dollar in oil sales to China, according to the Wall Street Journal (WSJ)

Informed sources told the newspaper that Saudi Arabia is “in active talks with Beijing to price some of its oil sales to China in yuan,” a move that would reduce the dollar's dominance over the global oil market and represent another shift by the world's largest crude exporter to Asia.

WSJ reported that “talks between Riyadh and Beijing have accelerated as the Saudi unhappiness grows with Washington.”