Harsha Kakar kakarharsha@gmail.com The global economy runs on oil and gas. The US has exploited this by insisting that all trade in oil and gas be based on dollars. Thus emerged ‘petro-dollars.’ This implied that all countries must hold dollars to pay for oil procurement, subsidizing US debt and enhancing their global influence. SWIFT (Society for Worldwide Interbank Financial Telecommunication) used in oil trade, is a Belgium-based messaging network connecting financial institutions dealing in oil transactions. Access to SWIFT signifies … Continue reading US intends to control oil trade