The Yuan is to the Renminbi what the penny is to the pound. The City of London is the banker of the Renminbi outside of mainland China.
🇮🇷 Iran is now considering a wild move: only letting oil tankers through the Strait of Hormuz if the cargo is paid in Chinese yuan ditching the US dollar for most trades.
— Mario Nawfal (@MarioNawfal) March 14, 2026
This would be a massive shift as ~80% of global oil is priced & traded in USD.
If Iran pulls it off, it’s a… https://t.co/MzmWnD6m7b pic.twitter.com/RMYccU3Qhy
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