Global News
Saudi Arabia's Oil Trade Diversification Equilibrium Waltz
Saudi Arabia has decreased 20% of its trading of its oil for U.S. dollars; yet maintains a $142+ billion investment in U.S. debt (U.S. Treasury notes), while having diversified its oil trade business into Russian & Chinese currencies, & in a lesser amount, Euros, as a hedge response to continued Federal Reserve overprinting of the U.S. dollar into an increasingly depreciated worth. For geopolitical strategy to protect its power by protecting its sovereign wealth, Saudi oil trade diversification will likely increase its pivot towards Russia & China, while maintaining an invested hedge in U.S. debt, (due to ease of transferring U.S. debt purchases back into currency), because that investment also creates a reciprocal 'backstop' of 'faith' in the U.S. dollar, deeming the dollar of value by & to the House of Saud. What's more, the Trump-Netanyahu War with Iran has highlighted China's diplomatic efforts as both, integral, & limited as Iran & Yemen proxy-target Saudi Arabia into conflict.
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