Page 4 - Petrodollar recycling - Wikipedia_Neat
P. 4
High-priced oil allowed the USSR to support the struggling economies of the Soviet bloc during
the 1974–1981 petrodollar surge, and the loss of income during the 1980s oil glut contributed to
the bloc's collapse in 1989. [35] During the 2005–2014 petrodollar surge, OPEC member
Venezuela played a similar role supporting Cuba and other regional allies, [36] before the 2014–
2017 oil downturn brought Venezuela to its own economic crisis. [37]
Gallery of notable examples
These images illustrate the diversity of major petrodollar recycling activities, in roughly
chronological order:
US Treasury securities, approximately $300 billion accumulated by OPEC governments during
1960–2015 [38]
German vehicle factory for Daimler, whose largest consistent shareholder since 1974 has been
Kuwait [39][40]
Itaipu Dam between Brazil and Paraguay, financed by loans from petrodollar bank deposits in the
1970s [41]
