While Saudi Arabia's decision to accept payment for oil in currencies other than the US dollar may not have a significant immediate impact, it could have long-term consequences. The country holds substantial dollar reserves and is unlikely to make drastic changes that could jeopardize their value. Therefore, the transition to a more diversified currency system for oil sales is expected to be gradual.
While Saudi Arabia's decision to accept payment for oil in currencies other than the US dollar may not have a significant immediate impact, it could have long-term consequences. The country holds substantial dollar reserves and is unlikely to make drastic changes that could jeopardize their value. Therefore, the transition to a more diversified currency system for oil sales is expected to be gradual.