US-Iran war, March 16 -- Amid the third week of heightened Middle East tensions, there is no sign of de-escalation. In fact, there is further escalation in the US-Iran war after the US military strikes in Iran's main oil hub of Kharg Island. The Islamic state is mulling all options to give a befitting reply to the US and Israel. In this bid, there are reports that Tehran is mulling an attack on the backbone of Washington's economy - the petrodollar regime.

According to a Times of India (ToI) report quoting CNN, the Iranian government is considering allowing oil tankers to pass through the Strait of Hormuz, provided they trade in Chinese yuan. Market experts believe that if Iran successfully implements this petro-Yuan plan, it will trigge...