Iran is considering allowing oil to pass through the Strait of Hormuz, provided that the oil cargo is traded in RMB.
This move directly hits the U.S. pain point.
According to a report by CNN on March 13th.
An Iranian senior official told CNN that Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz, provided that the oil cargo is traded in RMB.
According to sources, this potential move comes as the Islamic Republic is developing a new plan to manage the flow of oil tankers through the strait.
These days, international oil is almost entirely traded in dollars, except for sanctioned Russian oil, which is traded in rubles or RMB.
Over the past few years, China has been working hard to promote the use of RMB to purchase oil, especially in Saudi Arabia.
However, the dollar remains the global reserve currency, and the RMB has not yet been widely accepted in global markets.
This year, the United States has violated Venezuela and now is violating Iran, and its intentions are obvious to everyone — to control world oil.
The core motivation for controlling oil is to maintain the dominance of the dollar: the petrodollar system is the foundation of the United States.
Nearly 90% of global oil trade is settled in dollars, forcing countries to continuously hold dollars, forming a cycle where "buying oil earns dollars, then returning them to U.S. treasury bonds/stock market," providing long-term support for the U.S. fiscal deficit and capital market.
Iran's move is a direct hit at the U.S. pain point.
If all oil cargo is traded in RMB, then the efforts the United States has made for oil would be meaningless.
Original: toutiao.com/article/1859594218622976/
Statement: This article represents the views of the author himself.