Saudi Bank Governor Denies Talks to Replace Dollar

Saudi Arabia hasn’t held talks with other oil producers and major consuming nations such as China on moving away from the dollar as the currency used to buy and sell oil, Saudi Central Bank Governor Muhammad al-Jasser said.

Al-Jasser, speaking to reporters in Istanbul where he’s attending an International Monetary Fund summit, was denying a report in the London-based Independent newspaper, which said today that Gulf oil producers and customers including China and Brazil had held secret talks on phasing out the dollar in oil pricing.

The Independent report is “absolutely incorrect” and there has been “absolutely nothing” of that nature discussed between Saudi Arabia and other countries, al-Jasser said.