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.
Civilian energy use may be switching to renewables but militaries still run on oil with no viable alternative on the horizon so the currency oil is sold in will remain strategically important for the foreseeable future.
Militaries will switch to synthetic fuels or hydrogen. It is already doable, and expansion of production will make it cheap in the future.