Saudi Arabia and the Petrodollar: A Key Pillar of US Global Dominance

Saudi Arabia as a Key Pillar of US Global Dominance Through the Petrodollar System

Shiite News: According to the article, the Saudi leadership has played a central role in supporting US global economic dominance. It argues that the petrodollar system, under which international oil trade has historically been heavily denominated in US dollars, emerged from a historic agreement between Saudi Arabia and the United States. The article claims that under this arrangement, Saudi Arabia adopted the US dollar as the currency for its oil sales, after which other oil-producing countries followed a similar model.

The article argues that this contributed to the US dollar gaining extraordinary influence in global markets and becoming the world’s dominant reserve and trading currency. It further claims that the United States used this economic strength to advance its military interventions and policies around the world.

According to the article, the Saudi leadership prioritized its own interests and alignment with Washington over the interests and sovereignty of the wider Muslim Ummah. It links these policies to the continuing conflicts and bloodshed affecting Palestinians and people in Yemen, Iraq, and Syria.

The article further argues that Saudi Arabia’s role demonstrates, in its view, that the leadership has historically prioritized US interests over broader Muslim interests. It claims that the petrodollar system helped strengthen US global influence and alleges that Saudi policies continue to contribute to divisions within the Muslim world.

Read More: Erdogan Once Demanded Accountability for Yemen, Now Aligns With Saudi Arabia

The article concludes with a strongly condemnatory political assessment of Saudi leadership and calls for accountability over what it describes as a betrayal of the interests of the Muslim Ummah.