DrALJONESAnalysis: "How a war at sea threatens the petrodollar - a system long enforced through force & fear."
The 2003 occupation of Iraq told the region's oil exporters: If you try to break the dollar’s grip on energy trade, you risk copping vast political & military pressure.
In 2021, Iran began selling up to 95% of its oil in yuan. OK, said the US, "as long as the practice remained limited to Iran."
"It did not"
