Riyadh has significantly boosted its economic ties with Moscow over recent years in spite of western objections
Saudi officials earlier this year privately issued a “veiled threat” to G7 nations, saying the kingdom could drop some European debt holdings if the western bloc decided to seize almost $300 billion in Russian frozen assets, according to informed sources who spoke with Bloomberg.
The warning, which explicitly mentioned “debt issued by the French treasury,” was reportedly sent earlier from the kingdom’s finance ministry to some G7 counterparts...
In April, POLITICO reported that Saudi Arabia, along with other nations “sympathetic” to Russia, had been pressuring the EU to resist US and UK pressure to illegally seize Russia’s sovereign assets, which were immobilized after the start of the war in Ukraine in February 2022.
“These countries are very skeptical about the idea … this would create a precedent,” an official familiar with the talks told the US outlet, highlighting that these nations “fear” they could be next to be targeted by the west’s policy of economic warfare.
🔗SOURCE ➡️ The Cradle
Related: 6/13 — Saudi Arabia’s Petro-Dollar Exit: A Global Finance Paradigm Shift
8/25/23 — BRICS Doubles Share of Global Oil Production In Welcoming Six New Members at BRICS Summit in S. Africa — @PsyopDaily / TheMcgwire Original
7/26/23 — The End of The PetroDollar, The Rise of BRICS is Here — @PsyopDaily / TheMcgwire Original
March 2022 Flashback: US Hegemony Threatened As Saudis, UAE, India Ignore Threats of Sanctions, Turn to Russia/China — @PsyopDaily Original
(predicting the rise of BRICS and Saudis abandoning the petrodollar, one month into the Ukraine war)
Saudi Arabia and UAE Signal Possible Breakaway From US, Growing Relationship with China/Russia Alliance
....supports my last publication’s thesis that the US' unilateral sanctions are expediting the fall of the dollar as a reserve currency, and critically damaging to not just the countries sanctioned by the US, but critically damaging to America itself as well.
... illustrative of the macrocosm of the US pressuring allies and neutral countries alike to do what is not in their respective interest, pushing these countries into the arms of Russia and China.
India isn’t the only country seeking to phase out the dollar in its international trade, Saudi Arabia is seeking to start accepting the Yuan for their oil in place of the dollar. Being that Saudi Arabia set the foundation for the petrodollar, this is particularly significant,
.......Conclusion
The AIIB and BRICS will likely play a large role in the new economic world order discussed in my last publication from a week ago. The AIIB already has half of NATO signed on, and is gaining traction with the Silk Road Belt and Road initiative....
...India, Saudi Arabia, UAE, South Africa, and others yet to be as entangled, could simply be biding their time as they seek a smooth transition...
As Saudi Arabia is seeking to abandon the Petrodollar, India is seeking to phase out the dollar as a reserve currency in trade with Russia, the dollar’s reserve currency status faces a great threat.
Saudi Arabia’s departure from the standard it was instrumental in creating could embolden other countries to follow suit. Likewise, as multiple countries bolster relations with Russia and China, and defy the US’s wishes and implicit or direct threats, this could embolden others to do the same in the future-dismantling US hegemony. We could be witnessing the fall of the US empire, and its reserve currency, coincided by the rise of an emerging power structure and world economic system in which BRICS nations rise as the new dominant power of the globe.
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