>UAE announced this week they might start selling oil in yuan
I have read this headline dozens of times in the previous 30 years.
>UAE announced this week they might start selling oil in yuan
I have read this headline dozens of times in the previous 30 years.
I don’t think the gulf is in same as always mode right now
They kind of are. Iran has been attacking everyone in the Middle East for decades, occasionally seizing or destroying ships in Hormuz, and funding internal dissent. Things are worse right now, but not that much worse, and the short-term pain might very well be worth it for the long-term reduction in Iran's capabilities.
Uh, from the UAE's perspective it is much worse. They sold many $Bs worth of oil and had become a global tourist hub, now they can't do those things. They are being patient for the time being but there's a limit. We don't know what that limit is but if 6 months go by and the Strait's not open can we really expect them to not pay Iran a toll and price their oil in yuan?
What are you talking about? This level of escalation hasn’t happened for at least a quarter century. I know, because I’ve lived in the gulf for large parts of that period
Has the GCC been in an existential state of panic to the point where they’re seriously questioning their relationship with the US any time in the past 30 years?
Someone has at several different points. It isn't always the same someone, but someone.
Which country?
Kuwait was “saved” by the US. The Iraq invasion was approved by the GCC, partly as payback for Kuwait, and anyways Iraq is not part of the GCC. The Qatar blockade was self-inflicted (and extremely stupid).
That doesn't mean the warnings were frivolous. There was ultimately a change in course which averted it. How sure are you that will be the case this time?