بنكي | energy markets

Deutsche Bank: Iran War Could Accelerate the Rise of the “Petroyuan” in Oil Trade

A recent report Deutsche Bank suggests that the ongoing war in Iran could represent a pivotal moment for global energy markets, potentially accelerating the gradual shift of oil trade the US dollar to the Chinese yuan. The bank noted that escalating tensions in the region are placing increased pressure on the traditional dominance of the dollar as the currency of settlement for oil, and that some parties, particularly Iran, may allow the passage of oil shipments through the Strait of Hormuz in exchange for payment in yuan, especially with China being the largest importer of Iranian oil.