Tag: Strait of Hormuz
Last week, Pakistan announced that it will not comply with the latest sanctions the United States imposed on Iran and will continue trading with its neighbour. The news came just days after China made a similar statement.
In my previous piece — The Walls Have Doors Now — I argued that Treasury Secretary Scott Bessent’s promised “measures like have never been seen in the history of the economic isolation of a country” would push against an open frontier: an Iran with land bridges to Pakistan, military and intelligence lifelines to Russia and China, and, most consequentially, an oil trade that has walked out of the dollar entirely, settling in Chinese yuan through China’s CIPS clearing network beyond the reach of U.S. financial plumbing.
Alla fine di luglio, lo yen aveva registrato rispetto al dollaro la peggior caduta degli ultimi quarant’anni. Perché gli Stati Uniti hanno un interesse vitale a evitare che il Giappone precipiti in una crisi finanziaria?
With Iran demanding yuan for passage, the Gulf’s financial model is on fire.
