'Hard to unseat the king': Iran's control of Hormuz may not be end of petrodollar

Iran's control over the Strait of Hormuz is a central point of conflict, with the US threatening action unless Tehran relinquishes its influence. Despite Iran establishing a toll system and pricing payments in Chinese yuan, experts believe this is unlikely to dethrone the US dollar's dominance in the global oil trade. The petrodollar system, established in a 1974 deal between the US and Saudi Arabia, remains entrenched because key Gulf states are not expected to shift away from it. While US sanctions have encouraged countries like Iran and Russia to seek alternatives, the dollar's deep integration into global finance makes it difficult to replace.