The Petrodollar's Endgame The petrodollar has been the unspoken linchpin of global finance for decades, its influence felt throughout international trade and energy markets.
However, as the world shifts towards a more multipolar economy, the foundations of this dollar based system are beginning to crumble.
Understanding the Petrodollar's Historical Context In 1973, US Secretary of State Henry Kissinger brokered a deal with Saudi Arabia's King Faisal, where Riyadh agreed to price its oil exports exclusively in dollars.