Reports suggest that Iran is considering a policy to permit a limited number of oil tankers to transit the Strait of Hormuz, the fee for their cargo is paid in Chinese yuan (RMB).
What is driving Iran's use of the RMB? 1) It represents another front in the financial conflict, leveraging the RMB as a tool to challenge the petrodollar in the Middle East. 2) It strengthens ties with China, benefiting Iran as their primary trade is conducted in RMB.
What is driving Iran's use of the RMB? 1) It represents another front in the financial conflict, leveraging the RMB as a tool to challenge the petrodollar in the Middle East. 2) It strengthens ties with China, benefiting Iran as their primary trade is conducted in RMB.
