>

They can finally see the writing on the wall, their primary natural resource is in decline and have no other way of replacing it.
This should have been clear to them 20 + years ago, their entire economy is centered around pumping oil out of the 🌍 Earth.
Now they are scrambling and will accept most any currency, the Iranian Rial and Venezuelan Bolivar are the weakest.
Unfortunately for them both of those countries economies also depend on oil.
Bummer!
They can threaten it, but there really isn’t any other currency that makes sense. Perhaps selling to China directly in Yuan does but that doesn’t really hurt the US. No one outside China trusts trusts the Yuan more than the dollar, especially given the delay in releasing financial reports last year.  Everyone else depends on a currency with enough liquidity, so the only other reasonable choice is the Euro. Considering how strong the dollar is and will likely remain for the next few years, I’m not sure why the Euro would be preferable. If the Euro or Yuan don’t make sense, I don’t see how any other currency other than the dollar makes sense.
Sadly for Britain, Brexit has killed the pound. What a mistake that was. >

Well, it could mean two things…
Euros - like Venezuela, Iran and a bunch of other countries tried doing (the US didn’t like it), or it could mean rubles, which is what Russia wants right now, because to buy something in rubles, you need to buy rubles first, and this creates demand for an otherwise worthless currency and saves Russia having to spend their precious and limited foreign cash on buybacks to maintain the rubles value. >


Of course the US is going to apply pressure. It’s still going to protect its interests. 
The price cap really affects Russias income. Russia was doing really well when gas and oil were through the roof last summer. Now that oil and gas are low Russia is running a deficit. 
I think the US and Venezuela are in a dance at the moment. I am hoping that relationship is moving in a more positive direction
The Euro hasn’t failed really well either. It’s really a different world in 2023. The dollar is strong and the US now has regular LNG deliveries to Europe, so there is even more incentive to trade in dollars. >

This sounds like they are removing freedom from their oil. Some people don't like that. >

The US wouldn’t dare attack Saudi Arabia. The last time the US was there—as friends to launch an invasion against Iraq it got a lot of Islamic fundamentalists angry because a bunch of non-Muslims were too close to Mecca. They considered it an affront and one of them got a bunch of other fundamentalists to fly airplanes into buildings.
Attacking KSA is a good way to enrage a billion Muslims world wide. They’d see it as a neo crusade. >

No need to attack. Just stop selling them weapons. S.A. has been propped up by American arms sales for decades. The US could choose to let them know that they will not be selling them anymore arms should the follow through with the change. >

May 2023: Saudi Arabia has "terrorists" U.S. brings "Freedom"