Iran is allowing the passage of ships through the Strait of Hormuz if oil payments are made in yuan, according to media reports.
Iran is allowing the passage of ships through the Strait of Hormuz if oil payments are made in yuan, according to media reports.
This isn’t the 1980s.
Yes, the Petro dollar is an important part of American hegemony, but it’s not load-bearing like it once was. It’s role in propping up the dollar has been replaced by the financial markets.
So yeah, it would not be good for American power, but it would not cripple it by any stretch.