The Saudi Minister of Energy, Industry and Mineral Resources denied on Monday reports that the Kingdom was threatening to sell its oil in currencies other than the dollar, reported the Saudi Press Agency.
It deemed such claims as “inaccurate,” adding that they do not reflect Saudi Arabia’s position on the matter.
“The Kingdom has been trading its oil in dollars for decades, which has served well the objectives of its financial and monetary policies,” it stressed.
The Ministry reaffirms the Kingdom's commitment to its role as a “stabilizing force of energy markets, and its desire not to risk such a key policy priority through a fundamental change to the financial terms of oil trading relationships around the world.”
