Addition of KSA, UAE, Iran means share has doubled to 42% of crude oil output in 2022. "Saudi pricing oil exports to China and India in non-dollar currencies does not spell the end of the dollar as the international currency of choice,” says ING. Trade within bloc makes trade hard to sanction by West.
When they start to tell us there’s no problem, there’s a problem. The US dollar is in decline as the world currency. Too much debt by the US is making other countries nervous to hold too much of their dollars.
The USD as the world reserve currency has propped up the USA for decades. If/when that is no longer the case, the US is in for a serious reality check.
One of the never mentioned things about the Iraq war was that Iraq had announced it would sell its oil without the use of the USD a few months before.
bay of pigs, Venezuela, etc
they certainly used influence better than how china would.