No, Saudi Arabia did not cancel a formal “petrodollar deal” with the United States, as no such binding agreement ever existed. The 1974 U.S.-Saudi Joint Commission on Economic Cooperation expired in June 2024 without renewal, but fact-checks confirm it did not mandate oil sales exclusively in dollars; Saudi Arabia has continued pricing most oil in USD despite diversification discussions.
# Petrodollar Myth
Claims of a secret 50-year pact ending in 2024 stem from misinformation, often amplified on social media and YouTube. An informal understanding existed post-1973 oil crisis, where Saudi invested oil revenues in U.S. Treasuries for military protection, but it was never a formal contract with an expiration date. As of April 2026, Saudi oil trades remain predominantly in dollars, though it accepts yuan for some Chinese deals amid BRICS ties.[youtube](https://www.youtube.com/watch?v=sh7WJZ8uiuM)
# Iran War Context
The 2026 U.S.-Israel war with Iran began February 28 via airstrikes, driven by Iran’s nuclear program, ballistic missiles, proxy support (e.g., Hezbollah), and domestic suppression – not petrodollar issues. U.S. goals included destroying Iran’s missiles and navy; a ceasefire was reached by early April 2026. Saudi leaders urged strikes to curb Iran but denied pushing for regime change.
# No Causal Link
The war has strained Gulf oil flows (e.g., Strait of Hormuz closure spiked prices to $120+/barrel), potentially accelerating de-dollarization talks like “petroyuan,” but it did not stem from any Saudi-U.S. deal cancellation. Analysts note the conflict exposes U.S. security vulnerabilities in the Gulf, indirectly challenging petrodollar reliance, yet primary causes were security dilemmas and preemption.
DecrimIowa on
i’d say they are both the saudi and UAE starting to settle oil trades in Yuan and the Iran war are part of the same process, of transition from a unipolar to a multipolar world, and a transition from a centralized economy controlled by private actors to a digital economy where trades take place on quasi-public digital platforms controlled by central banks and governments
you could argue this process of de-dollarization and multipolarization has been unfolding for a long time, at least since 2008
the trick is, how do you move away from a unipolar hegemony and reserve currency without
a) an uncontrolled worldwide collapse
b) nuclear world war
(because traditionally, empires don’t die quietly, they lash around and break things, and in the era of nuclear weapons, that could extinguish life on Earth)
I think the powers that be, i.e. central banks, got together and decided to choose a multi-pronged approach incorporating newfangled technology, re-jiggering incentive structures, promoting regional alliances, and throwing in some aspects of Reality TV for the masses (complete with literal actual Reality TV star actors to capture peoples’ attention and serve as dastardly villain)
northskywave on
Isn’t it around that time when leaked footage of an alleged journalist’s execution surfaced? Probably just a coincidence. Whenever the media engages in finger-pointing, there’s never any hidden agenda, right?
4 Comments
Interesting as in, completely made up?
No, Saudi Arabia did not cancel a formal “petrodollar deal” with the United States, as no such binding agreement ever existed. The 1974 U.S.-Saudi Joint Commission on Economic Cooperation expired in June 2024 without renewal, but fact-checks confirm it did not mandate oil sales exclusively in dollars; Saudi Arabia has continued pricing most oil in USD despite diversification discussions.
# Petrodollar Myth
Claims of a secret 50-year pact ending in 2024 stem from misinformation, often amplified on social media and YouTube. An informal understanding existed post-1973 oil crisis, where Saudi invested oil revenues in U.S. Treasuries for military protection, but it was never a formal contract with an expiration date. As of April 2026, Saudi oil trades remain predominantly in dollars, though it accepts yuan for some Chinese deals amid BRICS ties.[youtube](https://www.youtube.com/watch?v=sh7WJZ8uiuM)
# Iran War Context
The 2026 U.S.-Israel war with Iran began February 28 via airstrikes, driven by Iran’s nuclear program, ballistic missiles, proxy support (e.g., Hezbollah), and domestic suppression – not petrodollar issues. U.S. goals included destroying Iran’s missiles and navy; a ceasefire was reached by early April 2026. Saudi leaders urged strikes to curb Iran but denied pushing for regime change.
# No Causal Link
The war has strained Gulf oil flows (e.g., Strait of Hormuz closure spiked prices to $120+/barrel), potentially accelerating de-dollarization talks like “petroyuan,” but it did not stem from any Saudi-U.S. deal cancellation. Analysts note the conflict exposes U.S. security vulnerabilities in the Gulf, indirectly challenging petrodollar reliance, yet primary causes were security dilemmas and preemption.
i’d say they are both the saudi and UAE starting to settle oil trades in Yuan and the Iran war are part of the same process, of transition from a unipolar to a multipolar world, and a transition from a centralized economy controlled by private actors to a digital economy where trades take place on quasi-public digital platforms controlled by central banks and governments
you could argue this process of de-dollarization and multipolarization has been unfolding for a long time, at least since 2008
here’s former bank of england governor, former UN climate czar, current Canadian PM Mark Carney giving a keynote address about it at the federal reserve’s annual conference in fall 2019, right before the repo market liquidity crisis / COVID kickoff
[https://www.bankofengland.co.uk/speech/2019/mark-carney-speech-at-jackson-hole-economic-symposium-wyoming](https://www.bankofengland.co.uk/speech/2019/mark-carney-speech-at-jackson-hole-economic-symposium-wyoming)
[https://www.reuters.com/article/us-usa-fed-jacksonhole-carney/world-needs-to-end-risky-reliance-on-u-s-dollar-boes-carney-idUSKCN1VD28C](https://www.reuters.com/article/us-usa-fed-jacksonhole-carney/world-needs-to-end-risky-reliance-on-u-s-dollar-boes-carney-idUSKCN1VD28C)
the trick is, how do you move away from a unipolar hegemony and reserve currency without
a) an uncontrolled worldwide collapse
b) nuclear world war
(because traditionally, empires don’t die quietly, they lash around and break things, and in the era of nuclear weapons, that could extinguish life on Earth)
I think the powers that be, i.e. central banks, got together and decided to choose a multi-pronged approach incorporating newfangled technology, re-jiggering incentive structures, promoting regional alliances, and throwing in some aspects of Reality TV for the masses (complete with literal actual Reality TV star actors to capture peoples’ attention and serve as dastardly villain)
Isn’t it around that time when leaked footage of an alleged journalist’s execution surfaced? Probably just a coincidence. Whenever the media engages in finger-pointing, there’s never any hidden agenda, right?
The Saudi Arabians are our Illuminati.
Prove me wrong.