Yep. Why would an oil refinery choose to stop accepting Iranian oil just to maintain the good graces of the US? This is probably just another, but very significant, test balloon in the march towards dedollarization.
I get the impression that Americans are still acting on the assumptions of being the indispensable economy and controlling the global financial system. But that’s no longer the case, and the only economic power the US has nowadays is being a large consumer market. However, as it goes into a recession the consumption drops which removes the only leverage the US still had.
Yep. Why would an oil refinery choose to stop accepting Iranian oil just to maintain the good graces of the US? This is probably just another, but very significant, test balloon in the march towards dedollarization.
I get the impression that Americans are still acting on the assumptions of being the indispensable economy and controlling the global financial system. But that’s no longer the case, and the only economic power the US has nowadays is being a large consumer market. However, as it goes into a recession the consumption drops which removes the only leverage the US still had.