Why the IRGC Looks Foolish as the U.S. Dollar Prevails

Here are my reasons why the U.S. dollar is winning in spite of IRGC actions. I observed protests in Pakistan over fuel price hikes last week. Many protesters, even pro-Iranian supporters, seemed unaware of how the IRGC’s blockade of the Strait of Hormuz drove up costs. Even after Iran reopened the strait for Pakistani ships, prices kept climbing. Stations still limit how much fuel people can buy. Countries like Pakistan, India, and China pay high rates because oil is priced in U.S. dollars. Middle East crude lists between $120 and $170 per barrel on paper, but connections and access fees often push that to $160–$200. Iran even demands $2 million per friendly vessel, claiming payment in yuan. That changes nothing. Yuan payments convert at the same dollar equivalent. Nigeria or any buyer paying in naira simply matches the U.S. dollar rate. Iranian officials themselves hold dollars and conduct most trade in USD despite public criticism.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.