In 2000, Saddam Hussein switched to selling petroleum in Euros. At that time it was considered an financially unwise decision, but later it was reported to have won Iraq handsome profits.

  • How exactly did switching from the USD to EUR make Iraq richer?
  • Did Saddam Hussein break any treaty by selling petroleum in Euros?
  • How was this change perceived in OPEC?
  • Did it influence other OPEC countries to sell petroleum in EUR instead of USD?
  • 2
    This seems more like an economics question. Currency speculation is a popular topic in finances, but a win is not guaranteed. Surely Saddam Hussein didn't know how the USD or EUR is likely to develop more than anyone else. Mar 9, 2022 at 9:35
  • The article you link explains that the Euro was at a low when Saddam started, and after that its value rose. Holding Euros while their value increases is obviously a good thing. There are a lot of other questions here though.
    – Stuart F
    Mar 9, 2022 at 18:41
  • This might be better suited to Economics SE or History SE.
    – whoisit
    Jan 9 at 13:43


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