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Oleg Nesterenko: The war in Ukraine is the war for the dollar

Section: Daily Dispatches

From Donbass Insider
via L'Eclaireur des Alpes, Grenoble, France
and Monthly Review, New York
Thursday, July 13, 2023

This is the second of three parts of an interview given by Oleg Nesterenko, president of the Centre de Commerce et de l'Industrie Europeen (European Trade and Industry Center) in Paris, to the publication L'Eclaireur des Alpes. This part looks at the real reasons behind the war in Ukraine, which is really a war for the dollar -- the third, to be precise.

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L'Eclaireur: When the question of the end of the supremacy of the dollar is being raised, you say that the war in Ukraine is not only the war of the American dollar, but that it is not the first.

... Dispatch continues below ...


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Oleg Nesterenko: I see that you are referring to my analysis of the dollar wars, published some time ago. ... In fact, this is not the first, or even the second, but the third dollar war. 

The first was the war against Saddam Hussein's Iraq. 

The second was the war against Gaddafi's Libya. 

And the third against Moscow on the territory of Ukraine, waged on the territory of a third country, simply because you can't wage war against the Russians in their own country. And it is only the hybrid and proxy war that can be waged against Russia.

As far as the first two dollar wars are concerned, the first thing to understand is that countries like Iraq and Libya are, above all, major energy powers -- powers that dared to put the American currency at risk. 

In 2003 Saddam Hussein made good on his threat to stop selling hydrocarbons and gas in U.S. dollars. Saddam Hussein was the first to raise the question of the legitimacy of the dollar, of the petrodollar, and, above all, to act in a very significant way against it. He signed his own death warrant. ...

... For the remainder of the interview:

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