Saudi considering China’s yuan for oil purchases

Saudi Arabia and China have been growing closer for years, and the news comes at a time of frustration among Gulf states with the US.
China currency
Investors look at screens showing stock market movements at a securities company in Beijing on Jan. 7, 2016. - FRED DUFOUR/AFP via Getty Images
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Adam Lucente
@Adam_Lucente

Saudi Arabia is reportedly considering accepting China’s currency for some oil purchases. 

The Wall Street Journal reported today that Saudi Arabia and China are in “active talks” to price some Saudi oil sales to the People’s Republic in yuan instead of the US dollar. 

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