The Opening Statement

Committee: The Economic and Social Council

Topic: The Fall of the Petrodollar in the Aftermath of the Russian-Ukraine War

Country: The United Kingdom

Name: Mustafa Mohammed Mustafa Shammout

Honorable chairs, fellow delegates, and distinguished guests;

The United Kingdom is grateful for the opportunity to be a part of this conference and to have
the chance to find a suitable solution to the conflicts caused by the fall of the petrodollar. Due to
the Russian-Ukraine conflict, there have been many changes to the foreign policies of the UK and
many other countries which consequently, caused global economy to take a huge turn. The UK
does not support the OPEC+ decision to cut oil exports by 2 million barrels a day, nor the talks of
Saudi Arabia to start selling oil in a currency other than the petrodollar. However, it is also
affected significantly by the plunging power of the US dollar. The delegation of the UK does not
endorse the separation of the members, especially in the economic field. The UK believes that a
UN Oil Organization could help end this problem. The UK is willing to help find a solution and
urges all members to assist in ending this conflict. Thank you.