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 is less than 10% of global oil and I don’t see the rest of the world joining in. People love to announce the end of the dollar’s reserve status but we are nowhere near it yet.
True but these things usually obey the rule of: “first gradually, then suddenly”
And I wouldn’t be surprised if many others are just waiting for the initial spark.