India's Yuan-for-Oil Trade Quietly Rewires AI Supply Chain Leverage

The enforcement logic of US chip export controls has always rested on a financial chokepoint: dollar-clearing correspondent banks serve as the gateway through which GPU purchases must pass, giving Washington leverage without requiring physical interdiction. India's yuan settlement for Iranian crude tests a different premise — that the chokepoint is not structural but circumstantial, a byproduct of dollar dominance that a proved alternative can route around.