The Iran war puts the petrodollar regime to the test

The global oil market has supported the U.S. dollar for more than 50 years. But the system has shown signs of cracking. Amidst the Iran war, Iran has reportedly been collecting some tolls in yuan. Today on the show, how the petrodollar regime came to be and what losing it would mean for the U.S.<br /><br />Come see Planet Money live on stage! 12 cities. Details and tix here: <a href="https://www.planetmoneybook.com/#tour" target="_blank">planetmoneybook.com/#tour<br /><br /></a>The Indicator has a weekly newsletter! Be among the first and sign-up now: <a href="http://npr.org/newsletter/indicator" target="_blank">npr.org/indicatornewsletter</a> <br /><br /><strong>Related episodes: </strong><br /><a href="https://www.npr.org/2026/01/27/nx-s1-5689039/can-europe-sell-america" target="_blank">Can Europe sell America?</a><br /><a href="https://www.npr.org/2026/04/15/nx-s1-5785228/think-the-oil-shock-is-bad-in-the-us-look-here#:~:text=Look%20here%20%3A%20The%20Indicator%20from%20Planet%20Money%20Shipping%20through%20the,trying%20to%20stop%20the%20bleeding." target="_blank">Think the oil shock is bad in the US? Look here</a><br /><a href="https://www.npr.org/2026/04/16/nx-s1-5786830/fixing-the-oil-crisis-might-not-fix-the-persian-gulf" target="_blank">Fixing the oil crisis might not fix the Persian gulf</a><br /><br /><em>For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at </em><a href="http://plus.npr.org/" target="_blank"><em>plus.npr.org</em></a><em>.</em> <em>Fact-checking by </em><a href="https://www.npr.org/people/1268825622/sierra-juarez" target="_blank"><em>Sierra Juarez</em></a><em>. </em><em>Music by </em><a href="https://dropelectric.bandcamp.com/" target="_blank"><em>Drop Electric</em></a><em>. Find us: </em><a href="https://www.tiktok.com/@planetmoney" target="_blank"><em>TikTok</em></a>, <a href="https://www.instagram.com/planetmoney/" target="_blank"><em>Instagram</em></a>, <a href="https://www.facebook.com/planetmoney" target="_blank"><em>Facebook</em></a>, <a href="http://npr.org/indicatornewsletter" target="_blank"><em>Newsletter</em></a><em>. </em> <br /><br /><br />See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.<br /><br /><a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>