"The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane and intolerable." -- H.L. Mencken

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The 50-year Petrodollar era between Saudi Arabia and the United States has ended, causing increased interest in the emergence of the Chinese yuan as a challenger to the dollar’s dominance.

Reports from foreign media and industry sources on the 14th reveal that the Petrodollar agreement between Saudi Arabia and the United States expired on the 9th. This is due to Saudi Arabia’s decision not to renew the agreement.

Saudi Arabia and other oil producers are gradually diversifying away from the US dollar in their energy trade, a move that could eventually dethrone the "petrodollar" and undermine the US financial system, international political and economic analysts told Sputnik.

The Saudi Central Bank has joined the Bank for International Settlements’ (BIS) central bank digital currency (CBDC) project, mBridge, to enable instant cross-border payments.

"This war was necessary for the region, because it thwarted attempts at normalization with the Zionist entity and its control over the region," Iran's supreme leader Ali Khamenei said earlier this month, explaining the strategic importance he attributes to the war in the Gaza Strip.

The 50-year-old petrodollar agreement between the U.S. and Saudi Arabia was just allowed to expire. The term “petrodollar” refers to the U.S. dollar’s role as the currency used for crude oil transactions on the world market. This arrangement has its roots in the 1970s when the United States and Saudi Arabia struck a deal shortly after the U.S. went off the gold standard that would go on to have far-reaching consequences for the global economy. In the history of global finance, few agreements have wielded as many benefits as the petrodollar pact did for the U.S.

The White House is prepared to roll out a plan that will make Saudi Arabia a Japan-style ally in exchange for Riyadh developing official ties with Tel Aviv. While the Biden administration has invested substantial effort to get the deal inked, it is likely dead on arrival because Saudi Arabia refuses to normalize with Israel unless Tel Aviv agrees to the creation of the Palestinian state. 

 by Dave DeCamp 

On Wednesday, the Mixed Migration Centre (MMC) published a report that said Saudi Arabia is still slaughtering African migrants and Yemenis at its border with Yemen nearly a year after the indiscriminate killings were revealed.

Saudi Arabia will not attend the Swiss-hosted peace conference on Ukraine in June because Russia will not be represented, German news agency DPA reported on Sunday, citing Saudi diplomatic sources.

Ukrainian President Volodymyr Zelensky's visit to Saudi Arabia, scheduled for past Saturday, may now take place after the "peace conference" in Switzerland, the report read. Riyadh has not yet officially announced its decision not to attend the conference.