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It is interesting in several different ways, because I was speculating on how it is being done before current cease fire. Everything seemed to be point to Yuan
by iugtmkbdfil834 7mo ago
It is interesting in several different ways, because I was speculating on how it is being done before current cease fire. Everything seemed to be point to Yuan ( or other non-USD currencies ), which then are more easily settled by vessel owners and likely buried under some non-descript names like fees to be , maybe, questioned later its all done.
edit: And it seems I was wrong despite it being my initial thought in terms of used rail.
- logicchains 7mo agoIt's a sad indictment of the RMB that Iran would rather use BTC for bypassing US sanctions.
- nickff 7mo agoIran is already quite dependent on the PRoC as a trading partner; using RMB as their primary currency for these payments would further increase their 'counter-party risk'. That said, RMB exchange-rate manipulation may also be a significant factor in their decision.
- tim333 7mo agoI don't think RMB is freely convertible to hard currency without Chinese permission. Bitcoin largely is.