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Dedollarization: How Iran challenges US dollar dominance and the petrodollar system

Geopolitical Economy Report

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The Petrodollar System and U.S. Economic Dominance

This chapter explores the historical significance of the U.S. dollar's role in global markets, particularly through the petrodollar system established with oil-rich Gulf monarchies. It also addresses current challenges posed by transitioning to other currencies, especially in relation to U.S.-Saudi Arabia ties and concerns over China's influence in the Middle East.

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