
Game of petrodollar Part- 6 Chapter 3: The Baghdad Seesaw (1980–2003) For decades, Iraq was the primary theater for protecting this system. We analyze the shift from the Iran-Iraq War to the 2003 Invasion. The Red Line: In 2000, Saddam Hussein began selling oil in Euros. The Consequence: Within weeks of the 2003 invasion, Iraq’s oil sales were switched back to Dollars. The message was clear: The Petrodollar system would be protected at all costs.
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