Tikvah
Editors’ Pick

March 21, 2022

U.S. Appeasement of Iran Has Opened the Door to a Sino-Saudi Attack on the Dollar

A possible deal to trade oil in yuan.

Not long after Riyadh rebuffed the White House’s entreaties to pump more oil to offset the economic effects of sanctions on Russia, reports emerged that Saudi Arabia has entered into negotiations with China to begin selling oil in yuan. Such a shift to Chinese currency would undermine the dollar’s dominant status in global petroleum markets. Ed Morrissey observes:

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