Saudi Arabia plans to abandon the dollar monopoly in trade. This statement was made by the Minister of Finance of the Kingdom, Mohammed Al-Jadaan, speaking at the World Economic Forum in Davos.
He focused on the fact that Riyadh was open for trading in other currencies.
"There is no problem with discussing the ways to settle our trade agreements, whether in US dollars, Saudi riyal or euros", Yahoo News quoted the minister.
For the first time in 48 years, Saudi Arabia announced its intention to abandon the monopoly of the US dollar in trade.
