Iran wants oil tariffs paid in Chinese yuan – is power of US petrodollar in decline

AI Summary

Iran has proposed that oil tariffs be paid in Chinese yuan, suggesting a shift in the currency dynamics related to the global oil trade. This move could signify a decline in the influence of the US dollar.

On top of this, Iran has announced plans to introduce tariffs in the Strait of Hormuz as a form of reparations for the damage caused by the war.