Tuesday, June 25, 2019

China in a position to counter Trump's madness by purchasing Iranian oil with its RMB currency

Shameful to call Trump President of the United States as his madness provokes a war with Iran.  By using Dollar transaction sanctions as a weapon to punish it’s economy he has put China in a position to counter as well as make Chairman Xi Jinping the peacemaker and leader with a steady hand the world can look up to.  By purchasing Iranian oil with its RMB currency China could truly incentivize Iran to stay within its JCPOA limits. It could use its fleet of tankers, if they don’t have one then they could buy one, also free from Dollar sanctions control to transport Iran oil owned by the China National Petroleum Corp (CNPC) for sale to Total, the French petroleum company.  These RMB oil transactions would greatly relieve and improve Iran’s economy and for China break the U.S. dollar’s monopoly of petroleum transactions and promote the RMB as a reserve currency of influence. Also the oil trade could further expand China’s Belt and Road initiative into Iran and more importantly Europe beyond the investments in Greek and Italian ports they already have.  For example France contrarily went against George W. Bush and his invasion of Iraq but with Mr. Trump they timidly took back investments in Iran by Total Petroleum, Peugeot Automobile Company and Airbus because of Dollar controls. China’s oil money could buy back the Total and Pegeuot investments. With regard to Airbus, China could start a joint venture to unlink Amercian hardware and avionics from its fleet as a matter of national sovereignty. One suffered by a Norwegian 737 Max that made an emergency landing in Iran and was stuck there for months because of an inability to get sanctioned spare parts.  If that had been a Chinese owned and operated Boeing aircraft then the humiliation of an arbitrary denial to freely operate its property would have been hard for a proud and up and coming superpower to endure. Can’t believe it went unnoticed.