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

Geopolitical Economy Report

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The Rise of the Petrodollar: OPEC's Geopolitical Impact and U.S. Strategy

This chapter explores the historical significance of the 1973 OPEC oil embargo, which drastically raised oil prices and sparked inflation in the U.S. It also examines the Nixon administration's strategic response in creating the petrodollar system through a partnership with Saudi Arabia.

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