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✨As geopolitical tensions in the Middle East shake energy markets, a new move from Iran that could affect the global financial system has come to the fore. It is reported that the Tehran administration is considering allowing oil tankers to pass through the Strait of Hormuz on the condition that oil trade be conducted in Chinese yuan.
✨According to international press reports, Iran is working on a new system to control tanker traffic in the strait and simultaneously break the dominance of the dollar in energy trade. At the heart of the plan is the payment of oil in Chinese yuan instead of US dollars.
✨The Strait of Hormuz is one of the most critical points for world energy trade. Approximately 18-20 million barrels of oil per day, or about 20% of the global oil supply, pass through this narrow waterway.
Therefore, Iran's imposition of conditions on passage through the strait is considered a development that could have economic effects not only regionally but also globally.
✨Challenging the petro-dollar system
For nearly half a century, the majority of international oil trade has been priced in US dollars. If the model proposed by Iran is implemented, this system could be seriously challenged for the first time. According to analysts, Tehran's move has two strategic goals:
To reduce the impact of US sanctions
To strengthen energy trade with China
To increase the use of "petro-yuan" in the global oil market
🕵️No final decision yet
Currently, no official and binding decision has been announced by the Iranian government. Information in the news indicates that Tehran is considering the idea of "allowing a limited number of tankers to pass through in exchange for yuan."
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