US EditionUS-Iran War: How Will Yuan Payments for Oil Passage Through Strait of Hormuz Impact Indian Stock Market, Gold, Silver?
6 Articles
6 Articles
Iran is reportedly considering allowing a limited number of oil tankers to sail through the Strait of Hormuz. The condition, however, is that the oil be traded in Chinese yuan, and not in US dollars. A high-ranking Iranian official told the American channel CNN this. What does that scenario mean, what could the consequences be, and above all, is it really realistic?
US-Iran war: How will Yuan payments for oil passage through Strait of Hormuz impact Indian stock market, gold, silver?
US-Iran war: According to a Times of India report quoting CNN, Iran may allow oil tankers to pass through the Strait of Hormuz, provided they trade in the Chinese currency Yuan
CNN, citing an Iranian official, reported that Tehran is considering allowing some ships to pass through the Strait of Hormuz...
Could Iran destabilize the petrodollar?
If Iran pushes oil transporters to move to trade in yuan, what would it mean for the petrodollar, the system that keeps the US dollar the world’s dominant reserve currency? CNN’s Eleni Giokos explains the history of the petrodollar.
This is reported by The Telegraph.An Iranian official, speaking with a CNN journalist, said that Tehran could provide safe passage for oil tankers if their cargo was sold for Chinese yuans.Oil is almost entirely sold in US dollars. The exception is Russian oil, which is subject to sanctions: it is sold either for rubles or for renmin.According to maritime tracking systems, some commercial vessels have already changed the signals of their transpo…
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