The Saudi Arabian Energy Ministry said on Monday that there would be no change to its policy of selling oil in US dollars after media reports suggested the move was planned to stop US Congress from passing a damaging antitrust law.
These reports “are inaccurate and do not reflect Saudi Arabia’s position on this matter,” the ministry’s statement seen by the Financial Times read, adding that the nation’s longstanding policy of trading oil in dollars “has served well the objectives of its financial and monetary policies.”