U.S. and Israel’s war on Iran has put a spotlight on the strength of the “petrodollar,” which makes up the cornerstone of America’s dominance over global trade, but economists warn the currency architecture has been eroding at its edges for years now. Analysts are heralding the 2020s as marking the biggest change in the world’s relationship to the dollar since 1974, and every day the Iran war continues, the cracks in the old system grow wider and wider. To be sure, the dollar is still overwhelmingly dominant, but it’s no longer the only game in town.

Full report : 2 years ago, Saudi Arabia quietly canceled the ‘petrodollar’ deal with America that wired the world economy for 50 years. Then war broke out in Iran.