What were the repercussions of Saddam Hussein's Iraq dumping the USD in favour of the EUR?

The Politicus
Mar 09, 2022 07:42 AM 0 Answers
Member Since Sep 2018
Subscribed Subscribe Not subscribe

In 2000, Saddam Hussein switched to selling petroleum in Euros. At that time it was considered an financially unwise decision, but later it was reported to have won Iraq handsome profits.

  • How exactly switching from the USD to EUR made Iraq richer?
  • Did Saddam Hussein break any treaty by selling petroleum in Euros?
  • How was this change perceived in OPEC?
  • Did it influence other OPEC countries to sell petroleum in EUR instead of USD?
0 Subscribers
Submit Answer
Please login to submit answer.
0 Answers
Sort By: