this post was submitted on 14 Jun 2024

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Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales (www.indiatoday.in)

submitted 5 months ago by schizoidman@lemmy.ml to c/worldnews@lemmy.ml

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[–] Num10ck@lemmy.world 1 points 5 months ago

i've seen mention of it around but the reality is that there's no big changes expected simply because there's no alternative currency that multinationals accept on this scale that is anywhere stable enough to use. if some trillion dollar stablecoin was hackproof eventually it could happen. but saudi isn't hungry for chinese or russian or eu etc currency at all.