Addis Ababa( Ethiopia Today) March 28,2023:- Kenya will buy oil from Saudi Arabia in Kenyan shillings instead of US dollars, according to a fuel import agreement signed by Kenyan President William Ruto and Saudi Crown Prince Mohammed bin Salman Al Saudi.
According to Kenya’s president, the agreement will allow the country access to all of its fuel needs in the form of a six-month loan and eliminate $500 million in monthly demand in the market.
The president believes the move should also make dollars more available in the country.
Earlier, President Ruto advised those hoarding US dollars that they may be at a loss because the market could be different within a couple of weeks.
Credit:-RT
