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Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). [3] It generally refers to the phenomenon of major petroleum-exporting states , mainly the OPEC members plus Russia and Norway, earning more money from the export of crude oil than they could efficiently invest in ...
The beginning of the end for petrodollar by Bulent Gokay, 15 March 2006. Cost, abuse and danger of the dollar by Rudo de Ruijter, Mathaba News, March 7, 2007. In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
Saudi Arabia–United States relations. U.S. President Donald Trump with the King of Saudi Arabia Salman bin Abdulaziz Al Saud in Riyadh at a summit in May 2017. Bilateral relations between Saudi Arabia and the United States began in 1933 when full diplomatic relations were established. These relations were formalized under the 1951 Mutual ...
June 9, 2024 at 1:54 PM. WASHINGTON (Reuters) - The Biden administration is close to finalizing a treaty with Saudi Arabia that would commit the U.S. to help defend the Gulf nation as part of a ...
Crown Prince Mohammed, far from being isolated by the US, has just secured an end to the four-year US ban on offensive weapons sales to Saudi Arabia. The deal means that air-to-ground missiles ...
A proposed Saudi deal would face opposition in Congress, where many lawmakers have denounced Riyadh for intervention in Yemen, moves to prop up oil prices and its role in the 2018 killing of ...
In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against the countries who had supported Israel at any point during the 1973 Yom Kippur War, which began after Egypt and Syria launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel ...
WASHINGTON (Reuters) -White House National Security Adviser Jake Sullivan will visit Saudi Arabia this weekend for talks expected to touch on a civil nuclear cooperation agreement, one piece of a ...