Also led to the invention of the Eurodollar. OPEC decided that world oil markets would be dollar denominated and the Soviet Union was making a bunch of money th

Also led to the invention of the Eurodollar. OPEC decided that world oil markets would be dollar denominated and the Soviet Union was making a bunch of money they didn’t want in US banks. European banks were happy to denominate deposits in dollars, despite being outside the US legal system and voila Eurodollars.