Why African Countries Will Support Alternatives to US Dollarized International Political Economy vis-à-vis Russo-Ukraine Conundrum

The actions and inactions of various state actors in the Russo-Ukraine conundrum reveal heightened discussions on what the role of the petrodollar and US dollar reserve should be in the wake of US sanctions against Russia. This conversation also bears importance when considered with the prospect of the war on African economic options outside the US/EU weaponized interdependence. Based on the above outlook, this work therefore seeks to respond to the question of why African countries will support alternatives to the US dollarized global economy as an imperative driven by the weaponized international political, economic, and financial systems led by the US vis-à-vis its dollar. To answer the question, a number of other sub-questions beckon. One of which is on whether the currency of oil in the America-led global economic transformation from "Dollar for Gold" to "Petrodollar system" can be considered a collaborative and transformative development for all regions of the world, including the developing (oil producing) states in Africa. Against the backdrop of the clamor to replace US currency connections with other smaller currencies and the gold standard, this paper concludes that the US, through its "Petrodollar system" and its ramifications, has not pursued a strategic interdependent global economic drive that considers a collaborative and transformational development for Africa. The paper also concludes that the weaponized global financial systems led by the US, Africa’s growing relations with Russia, the burden of a stronger US dollar on devalued local currencies, the imbalances in the petrodollar and its inextricable reserve dominance in African economic calibrations, and US intransigence to options that consider a collaborative and transformational development for Africa in the current globalized economic structures will more forcefully make African countries support alternatives to the US dollarized global economy.