Council on Foreign Relations 25d ago

“This conflict will be remembered as beginning the process of eroding petrodollar dominance and the beginnings of the petroyuan,” says Mallika Sachdeva, managing director and head of FX thematics at Deutsche Bank Research. “If there’s a toll that is being paid in a non-dollar currency, and that toll is a substitute for U.S. military action to reopen the strait, then that is a challenge to the U.S. security umbrella. . . . The strait could be the sort of birthplace of differentiated pricing for oil.” Subscribe to our channel: https://goo.gl/WCYsH7 This work represents the views and opinions solely of the author. The Council on Foreign Relations is an independent, nonpartisan membership organization, think tank, and publisher, and takes no institutional positions on matters of policy. Visit the CFR website: http://www.cfr.org Follow CFR on X: http://www.twitter.com/cfr_org Follow CFR on Facebook: https://www.facebook.com/councilonforeignrelations/