Iran wants oil that pass through the Strait of Hormuz to be sold in Chinese Yuan

[Taskford]

Some figures and calculations:

The scale of oil traffic through the Strait of Hormuz
The following volume passes through the Strait of Hormuz:
~17–20 million barrels per day
This is ~20% of global consumption
In monetary terms:
At $70–90 per barrel:
approximately $1.2–1.8 billion per day
approximately $450–650 billion per year
As a share of the global economy: global GDP: ~$105–110 trillion, or approximately 0.4–0.6% of the global economy

I don’t think this has much impact on the dollar

Lmfao!!! Opening the strait of Hormuz was never the core reason Israel and the United States waged war on iran but it is all of a sudden and you're here telling us you don't think it has much impact?! Well, it's fine, if your analysis makes you sleep better then so be it. We can literally see the numbers awaiting approval from iran to go through the strait and you want us to think otherwise?! Weldone.

I think controlling the Strait of Hormuz is one of the strategic reason on why this war escalate. Also what we commonly see discussed by US and Israel is about Nuclear weapons created or owned by Iran.

But resources is one of great factor on why US is eager to attack Iran, but unfortunately they made lots of miscalculation and shit happens not only with them but also including with other countries since economy in the worlds fuck up due to that war started by US.

There is a funny reasoning shared by some random people online and they say Trump did this just to cover up his relation on Epstein controversy, which for now this is pure rumors.

[BALIK]

I don’t think this has much impact on the dollar

The disruption to oil supplies from the Strait of Hormuz even had a positive impact on the USD. If you check the DXY index, you will see it has risen since the war broke out. I guess this is happening because of the petrodollar system. However, do not celebrate too soon. The US abuse of power and creation of global instability will only accelerate the process of dedollarization

Furthermore, while this may not impact the USD, it is affecting our lives as oil prices have risen by approximately 50% in just the last 3 week. And I was surprised to see someone who was not from the US more worried about the strength of USD than their own life.

[barbara44]

Why not their own currency? I understand they are not stranger to China, they are friends and allies, which never made sense to be considering they are a Muslim country and China is killing their own Muslims, so no idea how that ally system works.

But in the end, I know that they are allies, but still doesn't make sense, Iran should be looking to make money, and the best way to do that would be selling your oil for your own currency, that way others are buying up your currency, making it more powerful, instead of making China more powerful. You may think nobody will use theirs, but during an oil shortage, I am sure everyone will be fine with it.

[Oluwa-btc]

Why not their own currency? I understand they are not stranger to China, they are friends and allies, which never made sense to be considering they are a Muslim country and China is killing their own Muslims, so no idea how that ally system works.

But in the end, I know that they are allies, but still doesn't make sense, Iran should be looking to make money, and the best way to do that would be selling your oil for your own currency, that way others are buying up your currency, making it more powerful, instead of making China more powerful. You may think nobody will use theirs, but during an oil shortage, I am sure everyone will be fine with it.

They're literally charging big bucks for every single Ship which decides to access the strait. They will make too much money which can be used to develop their country after the war eventually.
And why the Yuan?! Nearest and best currency they can use to displace the dollar. It has nothing to do with allies or being Muslims. Venezuela did just the same thing before Donald Trump kidnapped him in the name of drug cartels.

[tabas]

I think the war will go on for some time now. There are very little symptoms of cease fire, and the fire of revenge is growing at an enormous rate. At this point, major countries should take a step back and think about peace. We never know how many lives will be lost in this war. I really wonder when countries would start living together in peace with no greed in mind. Every decade, there is some or other thing happen between countries whose impact is just increasing every decade. Next decade, we might even see a nuclear war which will destroy half of the globe just because some countries are greedy and want all.

What we think does not matter anymore and superpowers are already playing their side so let's not assume anything yet. The war will continue for a few more weeks and the supplies will be limited so let's utilize the resources wisely.

And that's what we have to embrace from time to time, there's no uncertainty anymore because of these world leaders that have to fight for what they think is right at the expense of their citizens and of the world. They're making us as the real chess pieces while they're the people sitting moving us to our own fate.

Trump's thinking of ending the war is scaring Iran and its allies by joining US' allies to fight with them. But that's not going to happen, they're not going to engage into this war because they know where it could go. 4k KM is so near with Iran and I hope that you're doing well there despite that the energy crisis is being felt by most people who relies on the Strait of Hormuz. There's a recent news that Iran allowed Thailand to pass the Strait but I don't know if the payment of $2M is waived and they're considering each other as friends.

It is well known that Trump is a liar. While he says he is negotiating with Iranian leaders, Iranian leaders say there has been no talk of negotiations with America and they will not negotiate this time. The Iranian thing is that they will die but will leave after seeing the end of it.


In fact, the area where the war is currently going on has become like the heart of the world because about 20% of the world's energy is supplied through this Strait of Hormuz. And because of this, it has been seen that the allies of the United States have now agreed to deal with Iran, just like South Korea is already talking to Iran. In the last 17 years, South Korea has not seen such inflation. In that sense, even if it is only 4000 kilometers or twice that distance, since most countries are supplied with energy through the Strait of Hormuz, the impact will be felt even if the distance is greater.

Yeah, there's a latest released video that they're saying there has been no talk at all. The inflation has took effect quickly because of this war. Everyone should be looking at the news from time to time and expecting this war to end soon. But, we don't get that. Instead, we see that Saudi Arabia has said they're now going to allow US to use their military bases.

[Crypto Library]

Yeah, there's a latest released video that they're saying there has been no talk at all. The inflation has took effect quickly because of this war. Everyone should be looking at the news from time to time and expecting this war to end soon. But, we don't get that. Instead, we see that Saudi Arabia has said they're now going to allow US to use their military bases.

Actually it is now open secret that the trump is liar and also he is doing insider trading by his position of USA president. It has been seen that as soon as he tweeted or shortly before, over two billion trades were taken with high leverage in the gold market, the stock market, and also in Bitcoin and Ethereum, and almost double that profit was made.

This means that what Trump is doing now is not just acting to show that he is a messenger of peace, but he is also regularly telling such lies to make his own pockets full.

[|MINER|]

What does this mean for United States dollar?

If Iran is successful in this, open the Hormuz Strait just for countries that trade oil in Yuan, is this not the start of dedollarization? Or do you think United States will make that not possible?

Major oil producers rely on this Strait. Saudi Arabia, Iraq, Kuwait, United Arab Emirates, Qatar and Iran relies on Strait of Hormuz. We also know the ambition of China which is not hidden at all. Also Russia has tried its best to make sure that people does not depend on trades in United States dollar.

In the past we saw many activity from the Russia and China and as well some others country to fight against the dollar I mean they work for the dollarization like if we talk about the BRICS then we also see Brazil, India and South Africa aside the Russian China even then they didn't launch any currency yet but they are planning for that.

But in the meantime, I see this war accelerating that dedollarization even more, especially since Iran is currently allowing oil tankers that have purchased oil primarily in Chinese currency to pass through. In this case, there will definitely be pressure on the dollar, whether in the short term or the long term.

[AmoreJaz]

Yeah, there's a latest released video that they're saying there has been no talk at all. The inflation has took effect quickly because of this war. Everyone should be looking at the news from time to time and expecting this war to end soon. But, we don't get that. Instead, we see that Saudi Arabia has said they're now going to allow US to use their military bases.

Actually it is now open secret that the trump is liar and also he is doing insider trading by his position of USA president. It has been seen that as soon as he tweeted or shortly before, over two billion trades were taken with high leverage in the gold market, the stock market, and also in Bitcoin and Ethereum, and almost double that profit was made.

This means that what Trump is doing now is not just acting to show that he is a messenger of peace, but he is also regularly telling such lies to make his own pockets full.

Though we can't verify the validity of such statement, much better to take care of your own business because waiting for the aid from the government won't come when you badly needed it. Try to find alternatives on how to survive.

[khiholangkang]

What does this mean for United States dollar?

If Iran is successful in this, open the Hormuz Strait just for countries that trade oil in Yuan, is this not the start of dedollarization? Or do you think United States will make that not possible?

Major oil producers rely on this Strait. Saudi Arabia, Iraq, Kuwait, United Arab Emirates, Qatar and Iran relies on Strait of Hormuz. We also know the ambition of China which is not hidden at all. Also Russia has tried its best to make sure that people does not depend on trades in United States dollar.

This will not be approved, the Dollar is a petro-dollar that must be maintained so that the world still holds the US in its dependence, this is indeed a form of dedollarization but yes this will not go easily, the US will definitely continue to pressure Iran until Iran gives up on the hormuz strait, after all there is a main route for GCC countries to export and import which will certainly affect the world.

The question is why does he currently state that the YUAN must be used? Is this indeed related to China or is Iran deliberately as if China is vocally involved here to show its BRICS strength.

[STT]

Its not the start of de dollarization its continuation.  40 years ago an attempt was made to trade oil in silver, the nixon shock of the 70's was unpopular with many and some attempt to switch was made in the 80's which failed.
  There was also 15% interest rates in the 80's that broke the back of any attempts to move away from dollar, that high a rate now is impossible.

Its likely the high price of gold now is some indication of these ongoing efforts to step away from the constant inflation and weak dollar but for now oil is sold in dollars and Iran is just one country but its not an isolated incident its one of many I think.

[Odusko]

Its not the start of de dollarization its continuation.  40 years ago an attempt was made to trade oil in silver, the nixon shock of the 70's was unpopular with many and some attempt to switch was made in the 80's which failed.
  There was also 15% interest rates in the 80's that broke the back of any attempts to move away from dollar, that high a rate now is impossible.

Its likely the high price of gold now is some indication of these ongoing efforts to step away from the constant inflation and weak dollar but for now oil is sold in dollars and Iran is just one country but its not an isolated incident its one of many I think.

The war didn't start now, this have been on for over several decades already and as you rightly said over 40 years and still we are here discussing how the influence of the dollar been on international trades and what countries are doing to bypass that hold, the war is more of an economic war than it is a political or military power even the nuclear weapon that becomes the center of the anger it just on the basis of that resource control that ll that is based and fought on.

[Cookdata]

This will not be approved, the Dollar is a petro-dollar that must be maintained so that the world still holds the US in its dependence, this is indeed a form of dedollarization but yes this will not go easily, the US will definitely continue to pressure Iran until Iran gives up on the hormuz strait, after all there is a main route for GCC countries to export and import which will certainly affect the world.

The question is why does he currently state that the YUAN must be used? Is this indeed related to China or is Iran deliberately as if China is vocally involved here to show its BRICS strength.

The world can't be fool forever, the US has the card now but give it in the next 10 years, the US will not have the cards forever. You think the way they are threatening Iran the rest of the world are not learning? If you bully my continue to bully my neighbor because you think you are superior to them but you didn't to me because of some kind of benefits you get from me, I will be inquisitive about it that one day I will be your next target, that's what most countries see with US.

You heard US was saying Russia were given some intelligence to Iran during the media talk? It's 100% possible, everybody hate them but nobody want to start the war with them and even the US is smart that other countries don't like them. The cards they playing wouldn't last forever unless they finally get a president that will make the world change the view about them; all of them logically think the same thing, "we are better and superior", useless government.

[jossiel]

Though we can't verify the validity of such statement, much better to take care of your own business because waiting for the aid from the government won't come when you badly needed it. Try to find alternatives on how to survive.

The aid from the government will come in unknown time. And so if we're all affected by this blockage of the Strait of Hormuz, we need to survive on our own.

If you know that you have an incompetent government and can't do much with its own people, don't rely on it.

But if you're in a country with a competent leadership, you know that you have nothing to worry about with this situation.

[tabas]

Yeah, there's a latest released video that they're saying there has been no talk at all. The inflation has took effect quickly because of this war. Everyone should be looking at the news from time to time and expecting this war to end soon. But, we don't get that. Instead, we see that Saudi Arabia has said they're now going to allow US to use their military bases.

Actually it is now open secret that the trump is liar and also he is doing insider trading by his position of USA president. It has been seen that as soon as he tweeted or shortly before, over two billion trades were taken with high leverage in the gold market, the stock market, and also in Bitcoin and Ethereum, and almost double that profit was made.

This means that what Trump is doing now is not just acting to show that he is a messenger of peace, but he is also regularly telling such lies to make his own pockets full.

We're seeing that he's so vocal about the situation and it's really possible that he's taking advantage of it. It's not only in the war in the Strait but also in the markets where they should be able to capitalize the situation and not let it pass that they're going to make some money out of it. We see it from time to time that if there are some new announcements that seems to be significant, the market moves a lot. If there are positive progress, the markets are also showing positive progress just as how it was announced by him.

[YUriy1991]

The war didn't start now, this have been on for over several decades already and as you rightly said over 40 years and still we are here discussing how the influence of the dollar been on international trades and what countries are doing to bypass that hold, the war is more of an economic war than it is a political or military power even the nuclear weapon that becomes the center of the anger it just on the basis of that resource control that ll that is based and fought on.

I've read in various online media sources that preparations for this war have been underway for a long time. The United States has placed so many military bases in the Middle East, and this doesn't seem to be a coincidence. The United States and Iran are very far apart, but they have placed numerous military bases in countries surrounding Iran. The United States, as one of the world's most financially powerful countries, will certainly not stand idly by if the dollar's influence or its interests in the Middle East are compromised. Iran's policy of opening the Strait of Hormuz to countries that use the yuan as a medium of exchange will only make the war more volatile. China will benefit without having to engage in open warfare. Of course, the United States will not remain silent, making the world situation even more chaos.

[Oluwa-btc]

I think controlling the Strait of Hormuz is one of the strategic reason on why this war escalate. Also what we commonly see discussed by US and Israel is about Nuclear weapons created or owned by Iran.

But resources is one of great factor on why US is eager to attack Iran, but unfortunately they made lots of miscalculation and shit happens not only with them but also including with other countries since economy in the worlds fuck up due to that war started by US.

There is a funny reasoning shared by some random people online and they say Trump did this just to cover up his relation on Epstein controversy, which for now this is pure rumors.

Was it?! All of a sudden, it is no longer Iranians wanting to build a nuclear weapon?! Lol. The strait of hormuz was literally blocked after those 176 all girls school in Iran was bombed by the US and Israel and the death of their Supreme leader and Ayatollah. Iranians wanted the world to fill the aggression and bullying of the US. Trump  only wants that open because, it affects their allies and also the petrodollar since those allowed to access must pay in Yuan currency and no longer dollar.  You get such miscalculations from a stupid president who hasn't done due diligence. Not just him and his entire Epstein regime.

[DrBeer]

Some figures and calculations:

The scale of oil traffic through the Strait of Hormuz
The following volume passes through the Strait of Hormuz:
~17–20 million barrels per day
This is ~20% of global consumption
In monetary terms:
At $70–90 per barrel:
approximately $1.2–1.8 billion per day
approximately $450–650 billion per year
As a share of the global economy: global GDP: ~$105–110 trillion, or approximately 0.4–0.6% of the global economy

I don’t think this has much impact on the dollar

Lmfao!!! Opening the strait of Hormuz was never the core reason Israel and the United States waged war on iran but it is all of a sudden and you're here telling us you don't think it has much impact?! Well, it's fine, if your analysis makes you sleep better then so be it. We can literally see the numbers awaiting approval from iran to go through the strait and you want us to think otherwise?! Weldone.

I think controlling the Strait of Hormuz is one of the strategic reason on why this war escalate. Also what we commonly see discussed by US and Israel is about Nuclear weapons created or owned by Iran.

But resources is one of great factor on why US is eager to attack Iran, but unfortunately they made lots of miscalculation and shit happens not only with them but also including with other countries since economy in the worlds fuck up due to that war started by US.

There is a funny reasoning shared by some random people online and they say Trump did this just to cover up his relation on Epstein controversy, which for now this is pure rumors.

Control over the Strait of Hormuz resulted from Iran’s actions to block all oil tankers. This has created problems around the world.
A way out of this situation? There aren’t many options:
- Ultimately, the replacement of the Ayatollah regime and Iran’s return to the global economy and normal relations with the rest of the world.
- Developing land-based oil supply routes.

We’ll see which of these is easier, faster, and less costly to implement.

[DanWalker]

Control over the Strait of Hormuz resulted from Iran’s actions to block all oil tankers. This has created problems around the world.
A way out of this situation? There aren’t many options:
- Ultimately, the replacement of the Ayatollah regime and Iran’s return to the global economy and normal relations with the rest of the world.
- Developing land-based oil supply routes.

We’ll see which of these is easier, faster, and less costly to implement.

The Strait of Hormuz had never experienced any problem or disruption until the US and Israel launched a preemptive strike against Iran, even while negotiations were still ongoing. That is the root cause of all the problems. Therefore, the only and best solution is for the US to end its blatant acts of aggression and bullying against Iran. And compensate them for the damage they have caused to Iran, that's all.

[justdimin]

Why not their own currency? I understand they are not stranger to China, they are friends and allies, which never made sense to be considering they are a Muslim country and China is killing their own Muslims, so no idea how that ally system works.

But in the end, I know that they are allies, but still doesn't make sense, Iran should be looking to make money, and the best way to do that would be selling your oil for your own currency, that way others are buying up your currency, making it more powerful, instead of making China more powerful. You may think nobody will use theirs, but during an oil shortage, I am sure everyone will be fine with it.

The reality of global situation. Not many people know what even Iran currency is called as rial and that's why Chinese yuan would be preferred because people know that if you do that, China is big enough and already many nations have that and it can be done, whereas rial is sanctioned all over and won't be done.

If you pick something that is sanctioned, how could companies actually use that? They can't, it's not allowed. Same goes for Russia in some nations, because it's sanctioned. Hence, China is the only ally they have left which can be global. As per recent news from Israel, they have killed the Navy captain of Iran who has been taking care of Strait of Hormuz. So, I do not think that Iran is still having all the control on Strait of Hormuz anymore given that Israel's claim is true.

[khiholangkang]

This will not be approved, the Dollar is a petro-dollar that must be maintained so that the world still holds the US in its dependence, this is indeed a form of dedollarization but yes this will not go easily, the US will definitely continue to pressure Iran until Iran gives up on the hormuz strait, after all there is a main route for GCC countries to export and import which will certainly affect the world.

The question is why does he currently state that the YUAN must be used? Is this indeed related to China or is Iran deliberately as if China is vocally involved here to show its BRICS strength.

The world can't be fool forever, the US has the card now but give it in the next 10 years, the US will not have the cards forever. You think the way they are threatening Iran the rest of the world are not learning? If you bully my continue to bully my neighbor because you think you are superior to them but you didn't to me because of some kind of benefits you get from me, I will be inquisitive about it that one day I will be your next target, that's what most countries see with US.

You heard US was saying Russia were given some intelligence to Iran during the media talk? It's 100% possible, everybody hate them but nobody want to start the war with them and even the US is smart that other countries don't like them. The cards they playing wouldn't last forever unless they finally get a president that will make the world change the view about them; all of them logically think the same thing, "we are better and superior", useless government.

I know many are upset with the US because they are always arrogant in their political interventions in influencing the rest of the world, the world is now in a different era and indeed we cannot be colonized by the US, as if they are the most powerful on this earth, there is a time for them to be swallowed by their own words and they will lose the concern of their own allies later because of the attitude that the US always shows.
Both democrats and republicans seem to be the same from the US, they will do such things again and again, because a leader is now a representation of his party which will certainly always be printed with views that are not much different in this case sir.