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Why Iran’s Most Dangerous Weapon in This War Isn’t a Missile - It’s the Yuan

Forget the Missiles. Iran Just Fired the Shot That Could Actually Break the West
 
European Business Magazine

Part 3 - The Strait as a Financial Weapon

The Strait of Hormuz has been effectively closed since March 1, following joint US-Israeli strikes on Iran that included the killing of Supreme Leader Ali Khamenei. Iranian forces declared the Strait closed on March 4, threatening and carrying out attacks on ships attempting to transit. The disruption is not marginal — approximately 20% of global oil supplies normally transit the waterway, and Brent crude has surged from around $70 to over $110 per barrel since the conflict began.

At least 16 oil tankers, cargo ships and other vessels have been attacked in and around the Strait, the Arabian Gulf and the Gulf of Oman in the two weeks since the war began. War-risk insurance through the strait has become effectively prohibitive for most commercial operators.
 
Trump threatened to attack Iran’s Kharg Island oil infrastructure if Iran continues to block shipping. Iran’s response was not another missile strike. It was the yuan condition.

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