Hacker News new | ask | show | jobs
by direwolf20 143 days ago
Which is why the US historically bombed any country that sold oil for other currencies, but now china is negotiating the petroyuan and it's working.
2 comments
mayhemducks 143 days ago
Interesting - The petroyuan was not on my radar at all.

https://ipr.blogs.ie.edu/2025/06/27/geopolitics-of-oil-how-c...: This article explores case studies such as Russia, Iran, and Venezuela, illustrating how the petroyuan has been implemented to bypass sanctions and reduce dependence on US financial systems.

link
direwolf20 143 days ago
It's ironic, isn't it? After going to war so many times to protect the petrodollar, the US deleted the petrodollar itself.
link
timtas 131 days ago
The petroyuan faces a big problem, which is lack of trust in the CCP to preserve its value.

As mentioned, there’s also mounting dissatisfaction and distrust in the petrodollar, but the devil you know…

link