Saudi Finance Minister Mohammed Al-Jadaan said that Saudi Arabia is open to discussions on trade using currencies other than the US dollar.
Al-Jadaan added, in an interview with “Bloomberg” in Davos today, Tuesday, “There are no problems discussing how to settle our trade agreements, whether it is in US dollars, euros, or Saudi riyals.”
“I don’t think we ignore or exclude any discussion that would help improve trade around the world,” Al-Jadaan said.
The world’s largest oil exporter is seeking to strengthen its ties with important trading partners, including China. Last year, during President Xi Jinping’s visit to Riyadh, the two countries agreed to enhance coordination on energy and exploration policy. Xi said during that visit that his country will make efforts to buy more oil from the Middle East and also wants to settle this trade in yuan.
Al-Jadaan said, “We enjoy a very strategic relationship with China, and we enjoy the same strategic relationship with other countries, including the United States, and we want to develop it with Europe and other countries that have the willingness and ability to work with us.”