In response to the US-Israeli war, Iran shut down the Strait of Hormuz, the most important oil chokepoint on Earth. However, Tehran is allowing Chinese tankers through, and says other ships can pass if they agree to sell oil in China’s currency, the renminbi (aka yuan). Ben Norton explains how this war affects the petrodollar system, and the dominance of the dollar as the global reserve currency. || Geopolitical Economy Report || Please consider supporting us at https://geopoliticaleconomy.com/Support Subscribe to our newsletter: https://geopoliticaleconomy.report/ Join our community on Patreon: https://patreon.com/GeopoliticalEconomy

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