Dollar sinking in Hormuz, death of ‘Dubai bling’, and rise of petroyuan, with Pepe Escobar

Olga and Tara are joined by veteran geopolitical analyst Pepe Escobar to dissect the seismic shifts occurring in the Strait of Hormuz. We dive deep into the implementation of Iran’s new ‘tollbooth’ system and what it means for the future of global trade. Is the US dollar truly sinking in the Persian Gulf? We explore the rise of the petroyuan, the updated concept of the ‘Primakov triangle’ which includes Russia, Iran, and China – and why the traditional business models of the UAE and the West are facing an existential crisis. From hypersonic deterrence to the emergence of a gold-backed alternative to SWIFT, we break down the birth of a new multipolar reality.