A proposal for the United States, Russia, Saudi Arabia, China and Japan to cooperate in strengthening the dollar, increasing global oil supplies and reducing energy prices.
What if President Donald Trump could bring Brent crude oil down to $77 per barrel through a temporary international financial and energy agreement?
The objective would be straightforward: strengthen the US dollar, reduce pressure on crude oil markets, restore oil shipments and improve global energy security.
1. Launch a Coordinated Dollar Agreement
Starting Monday, October 19, the United States could propose a temporary coordinated dollar agreement with Russia and Saudi Arabia, aimed at bringing Brent crude toward $77 per barrel.
China and Japan would not need to sign the agreement. Recognizing the potential benefits of more secure oil supplies and lower crude prices, they could independently decide to support the dollar through their own currency transactions, reinforcing the initiative without formal coordination with Washington.
A stronger dollar could make crude oil more expensive for foreign buyers, potentially reducing international demand and putting downward pressure on Brent prices.
The US Treasury could participate through its Exchange Stabilization Fund without requiring the Federal Reserve to change monetary policy.
The objective: Brent at $77 by October 27, with currency positions gradually reversed from November 9.
2. Give Russia a Reason to Participate
Washington could offer Moscow improved financial cooperation, discussions on sanctions relief and greater access to international markets.
Russia could contribute through currency operations, stable petroleum exports and measures to improve global diesel availability.
Trump could also propose a reciprocal agreement to halt attacks on energy infrastructure in Russia and Ukraine.
3. Bring Saudi Arabia Onboard
Saudi Arabia’s riyal is pegged to the US dollar, giving Riyadh an interest in dollar stability.
The kingdom could participate through currency operations, additional oil production where feasible and accelerated commercial shipments.
In return, Washington could offer expanded investment opportunities, security cooperation and closer economic relations.
4. Offer China and Japan Priority Oil Access
China and Japan are major oil importers and have a strong interest in reliable energy supplies.
Instead of promising financial compensation for their participation, Washington could offer priority access to American maritime escorts, shipping insurance and logistical assistance for their oil tankers passing through the Strait of Hormuz.
These services would improve supply reliability without restricting other countries’ legal navigation rights.
Washington could also explore arrangements allowing China and Japan to purchase additional Iranian crude under appropriate legal authorization, including possible euro-denominated transactions after the dollar-support operation.
5. Secure the Strait of Hormuz
The United States could expand maritime security arrangements and financial protection for commercial oil tankers.
Preferential insurance conditions could be offered for legally authorized, dollar-settled oil transactions.
Improved maritime security could restore confidence, reduce shipping costs and increase the availability of crude oil on international markets.
The Iranian component could also include a proposal to allocate part of legally authorized oil revenues to civilian development projects, including hospitals, schools and infrastructure.
6. Mobilize American Technology Companies and Investors
Trump could invite American technology companies to voluntarily convert foreign-currency holdings into dollars.
Major private investors could also consider financing dollar purchases through securities-backed lending, subject to financial regulations.
Separately, Washington could strengthen diplomatic support for American technology companies facing regulatory and trade disputes with the European Union, without conditioning government assistance on their currency transactions.
7. Protect Operation 777 Against Sabotage
The Trump administration could publicly declare Operation 777 an international initiative to restore oil-market stability, reduce crude prices and protect consumers worldwide.
Washington could warn that countries, organizations or individuals deliberately taking actions to sabotage the initiative could face severe economic and financial sanctions, where authorized under US law.
Ordinary currency trading and legitimate disagreement would not themselves constitute sabotage.
8. Negotiate Privately, Implement Transparently
Trump could begin confidential diplomatic negotiations with participating governments before announcing the agreement.
Implementation would then follow applicable financial laws, with appropriate public accountability and disclosure.
The agreement would establish a timetable for reversing currency transactions in the second week of November, without promising that exchange rates would automatically return to their original levels.
9. Prepare a Contingency Plan
If Brent does not reach $77, Washington and its partners could prioritize additional physical oil supplies, improved tanker security and the restoration of refining capacity.
Currency operations could be suspended if financial risks become excessive.
The Objective
Operation 777 would combine international currency cooperation, greater oil availability, secure maritime transport and shared economic interests.
A weaker euro could improve European export competitiveness, while a stronger dollar could potentially contribute to lower dollar-denominated Brent prices.
The fundamental question is whether the world’s major oil producers and consumers could temporarily coordinate their financial and energy policies to bring Brent crude down to $77 per barrel.
Rather than relying on one government or one instrument, Operation 777 would seek to align their interests around a common objective: more stable energy markets and lower crude oil prices.