US-Saudi Arabia Petro Dollar Pact Ends – Joe Biden’s Failures Are Bringing an End to Global Dollar Dominance

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by Jim Hoft, The Gateway Pundit:

Leaders from the BRICS Alliance meet in 2018 including Vladimir Putin and Xi Jinping. The original BRICs nations included – Brazil, Russia, India, and China and South Africa.

In March 2023, South Africa’s Foreign Minister Naledi Pandor announced that Saudia Arabia, United Arab Emirates, Egypt, Algeria, Argentina, Mexico, Nigeria, and other nations wanted to join BRICS Alliance. This was a direct threat to the West and US dollar dominance.

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Via Kanekoa.

Was this always the plan for the Obama-Biden regime? To take down US dominance on the global stage? Because that is taking place on a rapid scale.

Under Biden, who is openly mocked on the international stage, traditional U.S. allies are now aligning with China.

Saudi Arabia announced in March 2022 it was considering accepting the Chinese yuan instead of the US dollar in future transactions.

Last week Joe Biden allowed the 50-year-old petrodollar agreement between the U.S. and Saudi Arabia to expire.
Tip Ranks reported:

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. economy.

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