The “Petroyuan” More Trouble for the $USD
The term “Crown Prince” refers to the heir to the throne in a monarchy, while the US dollar is the official currency of the United States. There is no direct connection between the two concepts. However, the crown prince in some countries may have significant economic and political influence, including control over financial policies that impact the value of their currency. Therefore, any news or developments related to the crown prince or his country’s economic policies could potentially affect the value of the US dollar, as global markets are interconnected. Additionally, the US dollar is considered the world’s reserve currency, meaning it is widely used in international trade and serves as a benchmark for the value of other currencies. Thus, fluctuations in the value of the US dollar can have ripple effects on the global economy.
Saudi Crown Prince Mohammad on “Petroyuan” https://www.tacticalreport.com/news/article/61734-saudi-crown-prince-mohammad-on-petroyuan
Bahrain’s King Hamad bin Isa bin Salman al-Khalifa, U.S. President Joe Biden, and Saudi Crown Prince Mohammed bin Salman pose together for the family photo during the Jeddah Security and Development Summit (GCC+3) at a hotel in Saudi Arabia’s Red Sea coastal city of Jeddah on July 16, 2022.
The apparent deterioration in US-Saudi relations comes amid a recent worldwide trend toward de-dollarization with key, ascendent geopolitical actors, including but not limited to China, Russia, India, and Brazil all taking steps to reduce their use of the U.S. dollar.
- Robert Semonsen is a political journalist for The European Conservative
- — April 10, 2023
Russian oil trading at discounted prices has recently found its way to the top of Asian markets’ imports, overtaking Saudi oil https://www.tacticalreport.com/news/article/61734-saudi-crown-prince-mohammad-on-petroyuan
Crown Prince Mohammed Bin Salman has signaled, he is prepared to go it alone without the help of the United States to pursue Saudi interests https://moderndiplomacy.eu/2023/04/07/to-pursue-saudi-interests-without-the-help-of-the-united-states/
The news, revealed in a report published by the Wall Street Journal, comes as Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world when they announced cuts in oil production amounting to 1.15 million barrels per day beginning next month and lasting until the end of 2023.
According to unnamed people familiar with the conversation, the Crown Prince stated that he wants “something in return” for anything he gives—or concessions he makes—to Washington.
The shift in attitude could potentially have significant implications for the U.S.-Saudi strategic alliance
The Prince does not approve of his Father, the King’s “submission” to the West.
There has been a lot of focus on OPEC members and the BRICS countries (Brazil, Russia, India, China, and South Africa) recently as several members of these groups are shifting alliances. On Sunday, April 2, several major oil producers, including Saudi Arabia, Russia, the United Arab Emirates (UAE), Iraq, Kuwait, Oman, and Algeria, announced plans to cut oil production in 2023. The cuts will begin in May, and it is estimated that production will be reduced by 1.15 million barrels of oil per day.
After the decision, the White House responded to the news by stating that cutting oil production was not advisable. (WTF does that mean?) Despite statements from the Biden administration and various Democratic policymakers vowing consequences the last time major oil producers cut production in October 2022, Saudi Arabia’s leaders do not seem to care. According to a Wall Street Journal (WSJ) report published on April 3, Prince Mohammed “told associates late last year that he was no longer interested in pleasing the [United States].”
The Saudi government and crown prince Mohammed bin Salman are not interested in pleasing the U.S. and Saudi Arabia’s relationship with China has grown stronger.
The Growing Shift Away from U.S. Dollar Hegemony in Global Trade and Finance https://news.bitcoin.com/us-saudi-tensions-escalate-as-report-says-crown-prince-is-no-longer-interested-in-pleasing-the-united-states/
Bandar Aljaloud/Palacio Real saudí vía AP – After Greece, the Saudi crown prince meets with French President Emmanuel Macron https://atalayar.com/en/content/macron-repairs-mohammed-bin-salmans-image-working-dinner-elysee-palace
AP/YORGOS KARAHALIS – Greek Prime Minister Kyriakos Mitsotakis shakes hands with Saudi Crown Prince Mohammed bin Salman during a welcoming ceremony in Athens
German leader seeks energy deals, alliances on Gulf trip
“Petroyuan” the Crown Prince seems to have made up his mind concerning the matter of yuan-based pricing for oil trades with China.
Saudi Crown Prince Mohammed bin Salman shakes hands with Thailand’s Prime Minister Prayut Chan-o-cha at Government House in Bangkok, Thailand on November 18, 2022, during the Asia-Pacific Economic Cooperation (APEC) summit. Lillian Suwanrumpha/Pool via REUTERS
