A Reuters headline early Monday sparked fears that Iran could be in control of the Strait of Hormuz, a key narrow waterway in the Persian Gulf through which about one-third of the global supply of oil passes. Reuters reported in its story headline, Iran says it has full control of Gulf and U.S. navy does not belong there, while citing the head of Read More…
Tag: US sanctions
Venezuela Just Officially Stopped Accepting Dollars For Oil Payments
Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports. As we previously noted, Venezuelan President Nicolas Maduro said Read More…