And the US allows articles to be written about China and Saudi Arabia considering buying and selling oil in Yuan, ostensibly to provide cover for the fact that the US is actually forcing both China to buy in USD and Saudi Arabia to sell in USD.
It couldn’t possibly be that Iran trusts USD to have a more reliable purchasing power than an Indian Rupee, or that Saudi Arabia would rather bet on stability from USD rather than the Yuan.
The US is so effective that it can force a country that it embargoes (Iran) to sell oil in USD to a country with its own currency (India).
https://www.economist.com/finance-and-economics/2024/10/17/i...
And the US allows articles to be written about China and Saudi Arabia considering buying and selling oil in Yuan, ostensibly to provide cover for the fact that the US is actually forcing both China to buy in USD and Saudi Arabia to sell in USD.
https://www.wsj.com/articles/saudi-arabia-considers-acceptin...
It couldn’t possibly be that Iran trusts USD to have a more reliable purchasing power than an Indian Rupee, or that Saudi Arabia would rather bet on stability from USD rather than the Yuan.