Tag: Habib Al-Badawi

Oil transactions between Saudi Arabia and China could be denominated in the Chinese yuan, a significant development in the evolving international economic and geopolitical landscape. If this move happens, it could have far-reaching implications for the US dollar’s status as the dominant global currency, as well as for US-Saudi relations and broader regional dynamics in the Middle East.

Iran and Saudi Arabia, longtime regional rivals, have agreed to resume friendly diplomatic relations and reopen their embassies after Chinese-led negotiations in Beijing. The two governments announced the agreement via their respective state media agencies and China’s Xinhua News Agency.