Iran has begun settling oil transactions in Chinese yuan, moving away from the US dollar in a shift that author and investor Robert Kiyosaki warns could chip away at the dollar's decades-long dominance in global energy markets.
Why the switch matters
The move is the first confirmed instance of Iran using yuan for crude sales. For decades, most international oil deals have been priced and settled in dollars, a system often called the petrodollar. By bypassing the greenback, Tehran is sidestepping US financial sanctions that restrict its access to the dollar-based banking system. The Chinese yuan offers an alternative settlement currency, and China is Iran's biggest oil customer.
Kiyosaki's warning
In a social media post, Kiyosaki said Iran's yuan-based oil trade could accelerate pressure on the US dollar's global standing. He pointed to analysis by hedge fund founder Ray Dalio, who has long argued that the petrodollar system is vulnerable as more countries seek alternatives. Kiyosaki did not provide a timeline for any potential shift, but he framed the development as a concrete sign that de-dollarization is underway.
What's at stake for the dollar
The dollar's role as the world's primary reserve currency depends heavily on oil being priced in dollars. If more producers follow Iran's lead and accept yuan or other currencies, demand for dollars could fall. The US Treasury has not commented on Iran's yuan transactions. Kiyosaki's warning echoes growing concerns among some investors that Washington's use of financial sanctions is pushing trading partners to find workarounds.
Unanswered questions
It is not clear how much Iranian crude has been sold for yuan so far, or whether other OPEC members will take similar steps. The Iranian Oil Ministry has not released details of the transactions. For now, the petrodollar remains the norm in global markets, but the Iranian move — and the attention it gets from figures like Kiyosaki — suggests the debate over alternatives is no longer theoretical.
