While a challenge to the Petrodollar, it's should be noted that Iran is fighting back for its own survival.

https://www.mintpressnews.com/toll-booths-in-hormuz-irans-move-to-bypass-the-petrodollar-with-chinas-yuan/290793/

Up until recently, countries 'fighting' the US Empire are doing so on the US Empire's terms, and for their own existence to continue.

Time will tell what closing the Strait really brings. If there's one thing I've noted, is that the oligopoly that is behind the US Empire have been planning this for a long time. Will there recent mis-steps in Iraq, Afghanistan and funding Israel really affect them here?

We'll find out at some point.