The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered
I had heard about the petro-dollar exit but the new digital currency they want to implement is news to me. They have quite a few central banks are involved. I wonder what this will do to US finances?