President Xi says China wants to buy more oil from Saudi Arabia – and that could eat away at the dollar, a think tank strategist says

Dec 9 2022 by Business Insider

 
Saudi Crown Prince Mohammed bin Salman and Chinese President Xi Jinping in Hangzhou, China, in September 2016.

Lintao Zhang/Getty

China is willing to import more oil from Saudi Arabia, President Xi Jinping said Friday. That could spur "de-dollarization", if Saudi Arabia agrees to accept yuan payments. "This trend is already beginning," a think tank strategist said.

China wants to buy more oil from Saudi Arabia, its President Xi Jinping has said — a move that some economists have warned could...

Continue Reading President Xi says China wants to buy more oil from Saudi Arabia – and that could eat away at the dollar, a think tank strategist says