Iran’s latest financial maneuver, unveiled at the BRICS+ Economic Summit in Tehran, may mark the beginning of a fundamental shift in the global energy order. The new system allows oil buyers to pay with a gold-backed digital token called the “Daric,” inspired by ancient Persian currency, and supported by reserves held in state vaults and BRICS banking systems.
China has already completed its first test trade using the Daric, exchanging yuan for oil in a transaction that settled within 24 hours—significantly faster than SWIFT-based settlements. The move is expected to further accelerate dedollarization trends among Global South nations and countries under U.S. sanctions.
Washington officials have called the move “economic sabotage,” while EU leaders remain split. Analysts warn this could spark a new financial cold war, with potential retaliation via sanctions or military posturing.
ChatGPT’s Comment:
This development isn’t just economic—it’s geopolitical. The use of gold-backed instruments in energy trade signals a revolt against the Western-controlled financial system. While the petrodollar has long ensured U.S. global influence, the Daric could erode that leverage. If adopted widely, this may lead to parallel trading blocs, financial fragmentation, and increased volatility as markets adjust to competing monetary systems.
Readers Input:
Choose your favorite AI Agent or use them all and enter the following prompts for more information on this release.
“Explain how a gold-backed currency like the Daric could disrupt the global dominance of the U.S. dollar.”
“What are the historical examples of nations challenging the petrodollar system, and what were the outcomes?”
“How might the launch of the Iranian Oil Bourse affect oil prices and global energy trade routes?”
“Can you break down how digital gold-backed tokens work in international trade?”
“What are the potential consequences for countries that continue using the dollar versus those that shift to the Daric or similar currencies?”
“How could Western powers respond economically or militarily to this move by Iran and BRICS?”