BRICS Control 47% of Global Oil, U.S. Owns Just 2.1%
The US now needs to come up with initiatives and maintain its friendly ties with Saudi Arabia.
The Kingdom’s local currency, and the UAE’s currency, the Riyal and Dirham are pegged to the US dollar.
Therefore, Saudi Arabia and the UAE messing with the US dollar will only hurt their local currency which could impact their native economies.
@Zeb @Stahesh Yes .What if they unpeg it from the dollar and peg it to gold or oil ?