The End of the Petrodollar? How Iran War Is Reshaping the Global Economy: Author Laleh Khalili

Mar 19, 2026 | Professor of Gulf studies Laleh Khalili lays out the global economic implications of the effective closing of one of the world's "major choke points for oil," the Strait of Hormuz. "It doesn't benefit the average U.S. citizen … at the gas stations, but it does benefit the oil companies," says Khalili. "The higher the price of oil goes up, the relatively cheaper it becomes to actually have sustainable alternatives. Of course, that means that it benefits China … since China is way ahead of the rest of the world in producing these technologies."

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Saudis Threaten to Ditch Dollar: Call Their Bluff?

Rick Sanchez explains how the importance of oil is what made the US the internationally recognized world reserve currency. But now the Kingdom of Saudi Arabia is threatening to sell its oil in alternative currency if Washington passes the “NOPEC” bill, aimed at applying economic pressure to oil-exporting countries. RT America’s John Huddy joins Rick Sanchez to discuss.