The war in Iran is testing the dollar’s role as the currency for global oil trade, with one long-term consequence being a potential shift to using more Chinese yuan, according to Deutsche Bank.

Iran is allowing the passage of ships through the Strait of Hormuz if oil payments are made in yuan, according to media reports.

  • Hypx@piefed.socialEnglish
    2·
    9 hours ago

    Militaries will switch to synthetic fuels or hydrogen. It is already doable, and expansion of production will make it cheap in the future.