trmichaels
How did the embargo affect oil-exporting countries?
1973 oil crisis
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replied to: trmichaels
mordinho
Replied to: How did the embargo affect oil-exporting countries?
A reverse in the flow of capital led to an increase in aid investments in underdeveloped nations.
replied to: mordinho
dbrunner
Replied to: A reverse in the flow of capital led to an increase...
Some countries used the extra money to purchase arms, which increased tensions in the area.