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Trump's biggest enemy used Iran's high-stakes gamble to cripple dollar oil trade through Hormuz?

Published on Mar 14, 2026 08:41 pm IST

Amid rising tensions in West Asia, Iran is reportedly considering a dramatic new rule for oil tankers passing through the strategically vital Strait of Hormuz. According to reports, Tehran may allow limited tanker passage only if the oil onboard is traded in Chinese yuan instead of US dollars. The move could challenge the long-standing global “petrodollar” system and reshape energy trade. Nearly one-fifth of the world’s oil shipments pass through this narrow waterway, meaning any policy shift could shake global markets. As conflict involving Iran, United States and Israel escalates, oil prices and geopolitical tensions continue to climb. imes

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