Save for later Print Download Share LinkedIn Twitter Saudi Arabia, the world’s largest oil exporter and China, the world’s largest oil importer, are both warming to the cause of non-US dollar payments. Saudi Finance Minister Mohammed al-Jadaan said in Davos this week that his country was open to discussing oil settlements in alternative currencies. This is one more brick in the road to a new financial system that China is most likely to crown in place of the US Federal Reserve.
