What Happens If Oil Is No Longer Priced in Dollars?
What Happens If Oil Is No Longer Priced in Dollars?
Miles Franklin Media: 4-7-2026
Michelle Makori, President & Editor-in-Chief, Miles Franklin Media, and Andy Schectman, Founder & CEO of Miles Franklin Precious Metals, break down a major shift that could challenge the global financial system.
For decades, the petrodollar has been the foundation of global trade – oil priced in U.S. dollars, with revenues recycled back into U.S. assets. But that system may now be under pressure.
Reports suggest Iran is allowing oil shipments through the Strait of Hormuz only if payments are made in Chinese yuan. At the same time, China is building alternative payment systems like mBridge, while expanding infrastructure that allows yuan-based oil trade to be converted directly into physical gold.
Deutsche Bank is now warning that this conflict could test the dollar’s role in global trade and potentially accelerate the shift toward what some are calling the “petroyuan.” So what happens if oil is no longer priced in dollars?
In this ‘Quick Cut’ clip:
Is the petrodollar system starting to break?
Iran, yuan payments, and the Strait of Hormuz
China’s push for alternative trade systems (mBridge)
Oil-for-yuan… convertible into gold?
Why this could reshape global trade and reserves
What it means for the U.S. dollar and gold