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 Saudi Arabia denies plans to ditch petrodollar system


    

    

    

    


    

    

               





 

Source: Xinhua
|
 2019-04-08 22:05:51
| Editor:
huaxia


    

    
    		

    

    
    		

    

    


    

    


    

    

    

    


    


    

    A citizen counts U.S. dollar notes in Nantong, east China's Jiangsu Province, on Feb. 21, 2011. (Xinhua File photo)
    

    RIYADH, April 8 (Xinhua) -- Saudi Arabia on Monday denied reports that the kingdom plans to sell its oil in currencies other than the U.S. dollar, Saudi Press Agency (SPA) reported.
    

    The reports that Saudi Arabia is threatening to sell its oil in currencies other than the dollar are inaccurate and do not reflect the kingdom's position on this matter, said the Ministry of Energy, Industry and Mineral Resources.
    

    Saudi Arabia has been trading its oil in dollar for decades which has served well the goals of its financial and monetary policies, it added.
    

    The ministry also reaffirmed Saudi Arabia's commitment to its role as a stabilizing force of energy markets. 
    
    
    		

    

    



    

    


    

    

    

    


    

    




    

    
    		



    


    
















    
    

    
    		

    

    

    

    




    

    



    

    


    

    

    

    


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 Xinhuanet  


    

    

    

    
Saudi Arabia denies plans to ditch petrodollar system

    

    

Source: Xinhua

2019-04-08 22:05:51

    

    

    

    

    

    A citizen counts U.S. dollar notes in Nantong, east China's Jiangsu Province, on Feb. 21, 2011. (Xinhua File photo)
    

    RIYADH, April 8 (Xinhua) -- Saudi Arabia on Monday denied reports that the kingdom plans to sell its oil in currencies other than the U.S. dollar, Saudi Press Agency (SPA) reported.
    

    The reports that Saudi Arabia is threatening to sell its oil in currencies other than the dollar are inaccurate and do not reflect the kingdom's position on this matter, said the Ministry of Energy, Industry and Mineral Resources.
    

    Saudi Arabia has been trading its oil in dollar for decades which has served well the goals of its financial and monetary policies, it added.
    

    The ministry also reaffirmed Saudi Arabia's commitment to its role as a stabilizing force of energy markets. 
    

    



    

    








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