The Petrodollar
What currency are Petrodollars denominated in?
USD
Name one country that the U.S.S.R directly supported during the cold war
Cuba, Afghanistan, Korea, Bulgaria, Czechoslovakia
What does BRICS stand for?
Brazil, Russia, India, China, South Africa
What key resource was used to back U.S Currency until 1971?
What did countries get in exchange for selling oil in USD?
Military protection and political and economic support
What was the nickname for the Druzhba pipeline?
The Friendship Pipeline
Which country withdrew their application to BRICS?
Argentina
What is the "Transactional-25"
Those countries that wish to be neutral and have the ability to trade freely.
What is Petrodollar Recycling?
Every time oil is sold the revenue will flow back to the US economy through investments
Which group embargoed U.S oil in 1973?
OPEC
What specific event led to Russia being expelled from the G8?
Russian Annexation of Crimea
What is the name of the alternate Petrodollar System?
The Petro-Yuan