UAE Warns US It Could Sell Oil in Chinese Yuan if War Drains Dollar Supplies, Triggering Biggest Threat to the Petrodollar Since the 1970s - Defence Security Asia
defencesecurityasia.com
The UAE has warned Washington that prolonged dollar shortages caused by the Iran conflict could force Emirati oil sales into Chinese yuan, threatening the petrodollar system and US dollar dominance for the first time since the 1970s.
  • Rimu@piefed.socialEnglish
    2·
    2 months ago

    Isn’t UAE unable to sell oil at the moment, due to the war? The currency they sell in makes no difference when there’s no transactions taking place.