NEOM, Saudi Arabia — April 28, 2025
In a historic move, Saudi Arabia, China, the European Union, and OPEC signed the International Energy Accord 2025 today in NEOM, launching the Petroyuan and Petroeuro era. Saudi Energy Minister Prince Abdulaziz bin Salman, alongside China's He Lifeng, Pan Gongsheng, and European leaders Christine Lagarde and Valdis Dombrovskis, formalized the agreement under NEOM’s futuristic skyline.
The deal allows oil trade in Chinese yuan and the euro, reducing reliance on the U.S. dollar and signaling a major shift in global energy and financial markets. “The world is changing, and we are changing with it,” Prince Abdulaziz said at the ceremony.
(Updates with location and ministers)