news@hexbear.netEnglish · 3 months ago

UAE Warns US It Could Sell Oil in Chinese Yuan if War Drains Dollar Supplies, Triggering Biggest Threat to the Petrodollar Since the 1970s

defencesecurityasia.com

UAE Warns US It Could Sell Oil in Chinese Yuan if War Drains Dollar Supplies, Triggering Biggest Threat to the Petrodollar Since the 1970s

defencesecurityasia.com

☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to

news@hexbear.netEnglish · 3 months ago

UAE Warns US It Could Sell Oil in Chinese Yuan if War Drains Dollar Supplies, Triggering Biggest Threat to the Petrodollar Since the 1970s - Defence Security Asia

defencesecurityasia.com

The UAE has warned Washington that prolonged dollar shortages caused by the Iran conflict could force Emirati oil sales into Chinese yuan, threatening the petrodollar system and US dollar dominance for the first time since the 1970s.

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☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOP
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3 months ago
I think a big part of it is that passing through Hormuz requires payments in yuan now. They have a one dimensional economy built on oil exports.

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