The End of the American Era? | GyanJaraHatke with S. Maheshwari

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Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.

This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.

The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.

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