So I see Dovish/Western view on the China/Iran/Saudi deal and then the Chinese commentary on it.
Generally speaking, I think Western countries at the moment don't understand how much security/weapons China already provides to the GCC countries. It just has to be secret for now, because GCC countries don't want this to be in the open. But it's quite clear that China does supply more security to GCC countries but also has significant leverage over Iran.
The ideal case for China is that Iran can join GCC countries in some kind of oil/gas bloc that it can influence and that will price things in Yuan. Countries friendly to China would then buy energy in Yuan. At the same time, it builds the entire new energy and tech infrastructure in these countries so that they are entirely dependent on China. Over time, you will see more open military cooperations but that down the line.
Well, there are certainly this. China is building an energy bloc to support is industrial base. Perfect partnership.
We already know about China's efforts in Saudi and UAE. It's building huge green hydrogen plant in Egypt and selling weapons there. It's selling weapons in Algeria and have strategic partnership + wants to join BRICS.
Iraq has now become more pro China since the pro-Iran party got in power and wants to trade with China in Yuan.
China signed several major LNG deals with Qatar, but could use more influence there
this guy is pretty biased, but there is no question China is building influence in Oman also
I'd have to look into Kuwait and Bahrain a little more.
But as a whole, China's influence is building under the surface in both energy trades and infrastructure. Before long, it will also gain significantly in military. If the the underlying push behind Petrodollar is US security to GCC countries, then a more Chinese influence in the region + its already control over Russia/Iran oil will allow for wider adoption of PetroYuan.