2 ms·
One way: The US government's policy of "encouraging" countries to sell their crude in USD (in a "nice country you've got there, shame if something happened to
by InitialLastName 3y ago
One way:
The US government's policy of "encouraging" countries to sell their crude in USD (in a "nice country you've got there, shame if something happened to it" way) keeps them in effective control of the price of oil. The last time someone tried to sell in Euros instead [0], the US DOD spent more than $1,000,000,000,000 [1] proving their willingness to back up that threat.
[0] https://www.theguardian.com/business/2003/feb/16/iraq.theeuro https://www.theguardian.com/business/2003/feb/16/iraq.theeur...
[1] https://en.wikipedia.org/wiki/Financial_cost_of_the_Iraq_War https://en.wikipedia.org/wiki/Financial_cost_of_the_Iraq_War