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The PetroYuan Cometh: China Docks Navy Destroyer In Iran’s Strait Of Hormuz Port
Greetings,
The PetroYuan Cometh: China Docks Navy Destroyer In Iran’s Strait Of Hormuz Port
ince China fired its first ‘official’ shot across the Petrodollar bow a year ago, there has been an increasing groundswell of de-dollarization across the world’s energy trade (despite Washington’s exclamations of ‘isolated’ non-dollar transactors). The rise of the PetroYuan has not been far from our headlines in the last year, with China increasingly leveraging its rise as an economic power and as the most important incremental market for hydrocarbon exporters, in the Persian Gulf and the former Soviet Union, to circumscribe dollar dominance in global energy – with potentially profound ramifications for America’s strategic position. And now, as AP reports, for the first time in history, China has docked a Navy Destroyer in the Southern Iranian port of Bandar-Abbas – right across the Straits of Hormuz from ‘US stronghold-for-now’ Bahrain and UAE.
The rise of the PetroYuan has not been far from our headlines in the last year:
China Fires Shot Across Petrodollar Bow: Shanghai Futures Exchange May Price Crude Oil Futures In Yuan
Guest Post: From PetroDollar To PetroYuan – The Coming Proxy Wars
The Rise Of The Petroyuan And The Slow Erosion Of Dollar Hegemony
And now, as AP reports, for the first time in history, China has docked a Navy Destroyer in a Southern Iranian port of Bandar-Abbas – right across the Straits of Hormuz from ‘US stronghold-for-now’ Bahrain and UAE.
Adm. Hossein Azad, naval base chief in the southern port of Bandar Abbas, said the four-day visit that began Saturday saw the two navies sharing expertise in the field of marine rescue.
“On the last day of their visit while leaving Iran, the Chinese warships will stage a joint drill in line with mutual collaboration, and exchange of marine and technical information particularly in the field of aid and rescue,” said Azad.
The report said the destroyer was accompanied by a logistics ship, and that both were on their way to the Gulf of Aden as a part of an international mission to combat piracy.
…
Last year a Russian naval group docked in the same port on its way back from a Pacific Ocean mission.
The move is also seen part of off efforts by Iran to strike a balance among foreign navies present in the area near the strategic Strait of Hormuz, the passageway at the mouth of the Persian Gulf through which a fifth of the world’s oil is shipped.
U.S. Navy’s 5th Fleet is based in nearby Bahrain, on the southern coast of the Gulf….more here at the source
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