The Conversation Canada
📰 The Conversation (academic)
May 12, 2026
· 6 min read
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How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system
Original article ↗B.I.A.S. ANALYSIS
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ML v2 (DistilBERT)
0.289 · RIGHT
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0.144 · CENTER
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Article Excerpt
The petrodollar arrangement has underpinned the dollar’s global dominance since the 1970s. The U.S.-Israel war on Iran is straining that arrangement in ways emergency liquidity tools may not be able to fix. (AP Photo/Matt Slocum)
How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system
Published: May 12, 2026 12.08pm EDT
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For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of late March, debt held by the public reached US$31.27 trill…
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