Part 8/16:
The conversation delves into how the petrodollar system became central to U.S. dominance but now faces fractures. Countries like Russia, India, and China are increasingly trading oil outside the dollar system, using their domestic currencies, euros, or even cryptocurrencies. Recent deals between Russia and India to settle energy transactions in rubles or euros mark a move toward de-dollarization.
The speakers point out that the decline of the petrodollar could undermine U.S. geopolitical leverage, especially as other nations build alternative payment and reserve systems. Russia’s own strategic move to accumulate gold and diversify reserves exemplifies efforts to bolster sanctions resistance and reduce reliance on U.S. dollar assets.