Hudson analyses “how the control of the global oil trade is a core instrument of U.S. power, underpinning dollar-based finance and coercive diplomacy.”
“It frames sanctions, blockades, asset seizures, and regime-change operations as tools to keep rivals and non-aligned states dependent on energy routes, pricing, and payments channels dominated by the U.S. The petrodollars network includes oil priced in U.S. dollars, which are settled through Western banks, with surpluses recycled into U.S. financial assets. The system extends to demands over how producers use oil revenues.”
~ Quote from Michael Hudson
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