>>The 1973 oil crisis further fixed the value of the dollar as a result of this oil shock, bringing Saudi Arabia and the OPEC countries to make a secret agreement with Washington, the main architect being President Nixon’s legendary Secretary of State Mr. Henry Kissinger. **This agreement provided that in exchange for Washington’s political and military protection, the OPEC countries would be required to sell oil only in dollars.** https://greatpowerrelations.com/great-powers/status-of-great-powers/key-drivers-of-economic-capabilities/dollar-and-de-dollarization/birth-of-petrodollar/