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🇨🇳 Bank of Kunlun + SGE Gold: The Iran-China RMB-Oil-to-Gold Loop (Timeline)
⭕️ 2012: US sanctions Bank of Kunlun (CNPC-linked) for Iran deals—cuts it from USD system but makes it PERFECT for yuan payments. No US exposure to lose.
⭕️ Over years: Kunlun becomes main conduit for Iranian crude to Chinese “teapot” refineries (Shandong independents). Oil flows discounted, paid in RMB outside SWIFT.
Iran stacks yuan surpluses (tens of $B per Bloomberg est.). Can’t easily spend in dollars → converts excess RMB to PHYSICAL GOLD on Shanghai Gold Exchange (SGE).
⭕️ 2025: Bloomberg tracks SGE push—warehouses to HK/overseas, courting foreign CB gold storage, yuan gold benchmarks. China builds gold clout amid de-dollarization. Teapots keep lifting Iranian barrels despite US heat.
⭕️ 2026: US sanctions 5 teapots under EO 13902/13846 for Iran oil.
⭕️ May 2: China MOFCOM invokes Blocking Statute for FIRST TIME—orders firms NOT to comply with those US sanctions. Protects the whole Kunlun/teapot/SGE ecosystem.
⭕️ Result: Resilient sanctions-bypass loop—oil for RMB via Kunlun → gold via SGE. Accelerating decoupling. Bloomberg-reported reality.
What a system!
#Oil #Gold #Geoeconomics
(End)
@LukeGromen @thesiriusreport @Kathleen_Tyson_ @Sorenthek
$SKYAI $TST $4
🇨🇳 Bank of Kunlun + SGE Gold: The Iran-China RMB-Oil-to-Gold Loop (Timeline)
⭕️ 2012: US sanctions Bank of Kunlun (CNPC-linked) for Iran deals—cuts it from USD system but makes it PERFECT for yuan payments. No US exposure to lose.
⭕️ Over years: Kunlun becomes main conduit for Iranian crude to Chinese “teapot” refineries (Shandong independents). Oil flows discounted, paid in RMB outside SWIFT.
Iran stacks yuan surpluses (tens of $B per Bloomberg est.). Can’t easily spend in dollars → converts excess RMB to PHYSICAL GOLD on Shanghai Gold Exchange (SGE).
⭕️ 2025: Bloomberg tracks SGE push—warehouses to HK/overseas, courting foreign CB gold storage, yuan gold benchmarks. China builds gold clout amid de-dollarization. Teapots keep lifting Iranian barrels despite US heat.
⭕️ 2026: US sanctions 5 teapots under EO 13902/13846 for Iran oil.
⭕️ May 2: China MOFCOM invokes Blocking Statute for FIRST TIME—orders firms NOT to comply with those US sanctions. Protects the whole Kunlun/teapot/SGE ecosystem.
⭕️ Result: Resilient sanctions-bypass loop—oil for RMB via Kunlun → gold via SGE. Accelerating decoupling. Bloomberg-reported reality.
What a system!
#Oil #Gold #Geoeconomics
(End)
@LukeGromen @thesiriusreport @Kathleen_Tyson_ @Sorenthek
$SKYAI $TST $4
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