US pressures Saudi Arabia to sell oil in dollars, not Chinese yuan
Geopolitical Economy Report
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The U.S. And Saudi Arabia's Cold War on Russia
Washington frequently negotiates with Riyadh and tries to pressure it to either decrease production or increase production. In the past year, we saw a prime example of this with the inflation crisis in 2022. And those policies have been maintained under Donald Trump and Joe Biden. Russia is the world's third largest producer of oil representing around 11% of global crude production.
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