How the petrodollar shaped US power, and punished those who resisted

Apr 7, 2026 | 20:05 IST

(Image: AI)

As BRICS nations explore non-dollar trade, the foundations of the petrodollar system face fresh scrutiny. The outcome could reshape global finance — and power — in the years ahead.

The vast majority of crude oil sales are priced in United States dollars. This strengthens the US dollar against other global currencies even when US economic growth slows and inflation rises.

TOI

TOI

How the petrodollar shaped US power, and punished those who resisted

As BRICS nations explore non-dollar trade, the foundations of the petrodollar system face fresh scrutiny. The outcome could reshape global finance — and power — in the years ahead.

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TOI

How the petrodollar shaped US power, and punished those who resisted

As BRICS nations explore non-dollar trade, the foundations of the petrodollar system face fresh scrutiny. The outcome could reshape global finance — and power — in the years ahead.

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