Saudi Arabia Mulls Pricing of China Oil Sales in Yuan: WSJ

Saudi Arabia Mulls Pricing of China Oil Sales in Yuan: WSJ
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Saudi Arabia Mulls Pricing of China Oil Sales in Yuan: WSJ

The Wall Street Journal reports active talks between Riyadh and Beijing about pricing some Saudi oil sales to China in yuan instead of dollars.

  • Chatter about this sort of arrangement has been ongoing for several years, but recent events have brought a new urgency to talks, according to the report, which says the Saudis are questioning longstanding U.S. security commitments to the Kingdom.
  • Among the issues is what the Saudis believe to be less-than-enthusiastic support for the war in Yemen, the White House’s attempt at an Iran nuclear deal, and shock at the American withdrawal from Afghanistan.
  • China is a buyer of more than 25% of Saudi Arabia’s exported oil, according to the story.

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