Opinion: The End Of An Era: Is The US Petrodollar Under Threat?
Green Car Congress
OCTOBER 31, 2014
Nixon negotiated a deal with Saudi Arabia whereby in exchange for arms and protection, the Saudis would denominate all future sales of oil in US dollars. The company was also seeking financing for a gas project in Russia despite Western sanctions. “It The dominance of the US “petrodollar” continues to this day.
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