The Pakistan Economy Watch (PEW) on Friday said tensions are rising between Saudi Arabia and the United States, which could cause a sharp fall in the value of the US dollar.
Saudi Arabia is tired of increasing US interference in its internal affairs, overlooking its concerns and hitting its interests, it said.
Now Saudi Arabia is improving political, economic and defence relations with other countries, including Russia and China resulting in sleepless nights in Washington, said Dr. Murtaza Mughal, President PEW.
He said that Saudi Crown Prince Mohammed bin Salman who is the de facto ruler of the kingdom is not ready to talk to the US President nor is he willing to increase oil production to reduce the prices in the international market.
Dr. Murtaza Mughal said that now Saudi Arabia is considering selling oil to China in Yuan instead of the dollar, which would strengthen the Chinese currency and economy and pose a serious threat to the United States, its currency and the global dominance.
