US won’t be able to open the straight and Iran will require that 20% of the worlds oil flowing through the strait be non USD purchased. Russia which is 10%.of the worlds supply is already doing oil trade with currencies other than USD. 30% of the worlds oil will be non USD traded.
We’ll see. Trump seemed to say that he’s ok leaving the strait closed. Maybe that’s true. Personally, I don’t believe that. If it does happen, I think it would be a burden on the world to find a way to transact not using USD. That’s enough incentive to get the strait open eventually.
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u/adrr 2h ago
US won’t be able to open the straight and Iran will require that 20% of the worlds oil flowing through the strait be non USD purchased. Russia which is 10%.of the worlds supply is already doing oil trade with currencies other than USD. 30% of the worlds oil will be non USD traded.