It's also remarkable how you can present only one side of the coin. Why aren't we all doing international trade in Rubles? Well, the military spending has at least something to do with that, the Soviet economy was not exactly a powerhouse compared to the US's.
And do you think the powers that be appreciated it when Saddam and Russia started to plan for an oil market denominated in EUR instead of USD?
That it exactly the sort of thing you might want to do as a sort of hedge against the restraint against Russia you mention. So while I agree with you 100% in the examples you describe, you should be aware that some talking about the "petrodollar" has this more nuanced understanding.
And do you think the powers that be appreciated it when Saddam and Russia started to plan for an oil market denominated in EUR instead of USD?
That it exactly the sort of thing you might want to do as a sort of hedge against the restraint against Russia you mention. So while I agree with you 100% in the examples you describe, you should be aware that some talking about the "petrodollar" has this more nuanced understanding.