Let’s see, where to start. The Euro was on its way to being a substantial force in the world. Then the EU decided to seize assets in Cypress. See link. This caused everyone who could to move their money from Euros to dollars and the Euro has sense declined in the percentage of world trade, down to the present twenty percent from, if I recall, about forty percent. The Euro will be gone at some point because adopting it was great for Germany and France, but destroyed Greece, Spain and Italy. The only way those countries will EVER grow again is to dump the Euro. It’s days are numbered.
As far as the US destroying the pipeline, hogwash. The US had already achieved its goals. Destroying the pipeline would have been a ridiculous and dangerous thing to do to an ally. The most likely candidate was Gazprom because they were under contract to deliver either gas or pay the penalties for not delivering gas. But if the pipeline was destroyed Gazprom was relieved of their contractual obligations by force majeure.
If the Cypress bank seizures moved countries away from the Euro, seizing central bank assets and exclusion from SWIFT will do so even more for the dollar.
The Euro is still 30% of international currency transactions, the crosses exist for every country, and becoming the international currency solves the EU austerity/borrowing tradeoffs.
https://www.bis.org/statistics/rpfx22_fx.pdf
Because the international currency gets to print and borrow w/o inflation, devaluation and high interest rates.
The EU has every incentive to want to do this.
(BTW People in europe overwhelmingly believe the US blew the pipeline. )