OREANDA-NEWS. Saudi Arabia has threatened the United States to abandon payments in dollars on oil sales if Washington adopts the anti-cartel NOPEC (No Oil Producing and Exporting Cartels Act) law, which will allow the US government to sue antitrust claims against OPEC member countries. This was reported on Friday by Reuters.

According to his sources, the Saudi authorities have been discussing this option for several months. They have already informed US representatives that Riyadh can refuse to pay in dollars if this legislation is passed, the agency said. In addition, the Saudis also discussed this plan with other OPEC members.

As the agency notes, the chances that the document will be adopted and come into force are not so great. However, the fact that Riyadh is considering the possibility of abandoning payments in US currency when making oil deals demonstrates Saudi Arabia’s dissatisfaction with the prospect of engaging in antitrust litigation in US courts, the agency said.

The bill provides for the US courts to be empowered to consider antitrust claims against OPEC countries and other states involved in cartel collusion in the oil market. At the same time, any joint actions of other governments aimed at restricting oil production and setting prices for it are recognized as illegal. US Secretary of Energy Rick Perry had earlier warned Congress that the adoption of the bill could stimulate a sharp rise in oil prices.

If Riyadh abandons the dollar when trading its oil, it will undermine the status of the US currency as the main reserve, reduce Washington’s influence on world trade and weaken the US ability to apply sanctions against other states, the agency said.