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jan 1, 1973 - OPEC oil trade embargo

Description:

The Organization of Petroleum Exporting Countries (mostly comprised of Middle Eastern nations) imposed a trade embargo on the US for their support of the Jewish Israeli state during their war with the Islamic Palestinian state. This caused serious global fluctuations in oil prices, and caused a short recession.

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Western European Unity

ByAlex
16 Apr 2021
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Date:

jan 1, 1973
Now
~ 52 years ago
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