The Petrodollar after February 2022 : A Survey from AOPEC Countries

This study explores AOPEC countries' views on the Petrodollar after the second shock of globalization; since February 2022, with the start of the war in Ukraine, the world order has witnessed an economic war alongside conventional war. Along with predictions about how well the US will do at making a Russian oil price cap. Our results indicate that Russia and China are attempting to undermine U.S. control over the global monetary system for political reasons; US efforts to impose the Russian oil price cap is a source of systematic risk to them; Russia's and China's governments employ a wide range of strategies to stop that; On the other hand, the currency diversification policy that oil-exporting countries follow in order to preserve their oil revenues has become a necessity to avoid or reduce the risks of imported inflation and additional fluctuations in the value of the US Dollar. This study has contributed to the literature related to energy markets. The study investigates the change of mechanisms and currency for oil pricing according to oil-exporting countries' attitudes based on giving up the petrodollar after the second shock of globalization. Today, political factors have become a catalyst for the rapid abandonment of oil pricing in US dollars, with the trend towards market pricing away from the forces of demand and supply. In addition to the economic factors that have emerged during the last three decades