They're only (potentially) going to try and price the oil they sell to China (~20%) in RMB, the rest still priced in USD. There are a lot of Saudi assets tied to the US, but the US has security and economic commitments to the Saudis that they can't just back out of because of something like this. Saudi Arabia is a strategic ally of the US, they can't sanction them like Venezuela or Iran without there being absolutely massive consequences for US power and prestige worldwide.
Functionally yes.
I might be wrong, but don't the Saudis have all or most of their assets tied to the US?
I can't see this happening without US freezing all Saudi assets under some kind of excuse e.g. "human rights" which will suddenly become a huge issue.
They're only (potentially) going to try and price the oil they sell to China (~20%) in RMB, the rest still priced in USD. There are a lot of Saudi assets tied to the US, but the US has security and economic commitments to the Saudis that they can't just back out of because of something like this. Saudi Arabia is a strategic ally of the US, they can't sanction them like Venezuela or Iran without there being absolutely massive consequences for US power and prestige worldwide.