The condition is that the oil must be traded in Chinese yuan, according to CNN, citing an unnamed Iranian official. However, Iran has not yet officially provided information on the conditions for using the Chinese yuan to open trade access through the Strait of Hormuz. Currently, most global oil sales are conducted in US dollars, although sanctioned Russian crude is increasingly traded in rubles or yuan. So, why is Iran demanding payment in yuan to open the Strait of Hormuz?
#GlobalNews
COS
0.001822
-10.73%
MBOX
--
--
XRP
1.4104
+1.39%