“Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.
This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.”
On Sept. 9, the White House announced a plan for the construction of an India-Middle East-Europe Corridor (IMEC) that would connect India to Europe, through the UAE, Saudi Arabia, Jordan, and Israel. On Oct. 7, Iran’s Palestinian ally Hamas burst out of Gaza into Israel, killing 1,400 Israelis, and kidnapping 200 others.
Iran, along with Russia and China, is part of the competing Belt and Road corridor designed to connect China to the Mediterranean.
“One of the reasons Hamas moved on Israel… they knew that I was about to sit down with the Saudis,” President Biden said. “The Saudis wanted to recognize Israel.”
Excellent analysis!
Thank you!
America’s foreign policy prescriptions for Iran are utterly incoherent and completely diabolical at this point.
Brilliant as usual 👏🏼
“Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.
This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.”
https://www.indiatoday.in/amp/business/story/saudi-arabia-ends-80-year-petro-dollar-oil-with-us-dollar-for-multi-currency-sales-2552844-2024-06-13
On Sept. 9, the White House announced a plan for the construction of an India-Middle East-Europe Corridor (IMEC) that would connect India to Europe, through the UAE, Saudi Arabia, Jordan, and Israel. On Oct. 7, Iran’s Palestinian ally Hamas burst out of Gaza into Israel, killing 1,400 Israelis, and kidnapping 200 others.
Iran, along with Russia and China, is part of the competing Belt and Road corridor designed to connect China to the Mediterranean.
“One of the reasons Hamas moved on Israel… they knew that I was about to sit down with the Saudis,” President Biden said. “The Saudis wanted to recognize Israel.”
https://arabcenterdc.org/resource/the-geopolitics-of-the-india-middle-east-europe-economic-corridor/