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Saudi Arabia Ends 80-Year Petrodollar Deal With US

Saudi Arabia's termination of its 80-year petrodollar deal on June 9, 2024, may reshape global oil markets, as it considers selling oil in currencies like the Chinese yuan, impacting US economic dominance.

According to media sources, Saudi Arabia has chosen not to extend its 80-year petrodollar agreement with the United States, which ended on Sunday, June 9.

Originally signed on June 8, 1974, this pact had been a major contributor to US economic dominance worldwide.

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