Kenya to Buy Oil Using Local Currency Instead of US Dollars

[Yongpeng Sun-Tastaufen]

https://sputniknews.com/20230324/kenya-to-buy-oil-for-local-currency-instead-of-us-dollars-1108756344.html

While Kenya is experiencing an economic crisis alongside a plummeting local currency, petroleum cartels are socking away greenbacks, raising the ire of the African nation’s head of state.
Kenyan President William Ruto signed an agreement with Saudi Arabia to buy oil for Kenyan shillings instead of US dollars.
As the US currency exchange rate hit 145.5 shillings due to increased demand by importers, President Ruto accused oil cartels of stockpiling American dollars in response to the crisis, sparking fuel shortages throughout Kenya.