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could oil be sold in Chinese Yuan instead of US Dollars rumors of advancing discussion between Saudi aramco the Saudi State and China insinuate that the development isnt entirely off the table since much of if not all of the USs foreign influence stems from its role as the issuers of the global Reserve currency the US dollar an economic development like Saudi selling oil for Yuan instead of US dollar would have dramatic implications for the necessity demand and influence of U.S dollar in international markets Saudi Arabia sells about 80 percent of its exported oil in dollars just as it has since 1974 when it entered a deal with the Nixon Administration to exclusively protect the U.S interest in oil sales in return for military protection could this be the beginning of a shifting Alliance amongst Global powers
