Tag: U.S. Economy
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The End of an Era: Unpacking the U.S.-Saudi Petrodollar Pact and Its Implications
The end of the 50-year-old petrodollar pact between the United States and Saudi Arabia is an event of monumental significance. In this long-standing arrangement, Saudi Arabia agreed to sell oil exclusively in U.S. dollars and invest in U.S. Treasuries in return for American military protection. This deal not only solidified the dollar’s dominance as the…