What happens when countries try to break the dollar’s grip on energy trade? Look at what happened in 2003 to Iraq after it moved to price Iraq’s oil exports in euros instead of US dollars.

In 2021, Iran began selling up to 95% of its oil in yuan. That's ok, said the US, "as long as the practice remained limited to Iran. It did not"

Strait of Hormuz shock: How a war at sea threatens the petrodollar order

War in the Persian Gulf is exposing the fragility of a dollar system long enforced through force and fear.

thecradle.co (thecradle.co)

#USPol #EUPol #Petrodollar #Hormuz #news #USImperialism .