Iran's new payment system for vessels in the Strait of Hormuz requires fees in Yuan or cryptocurrency, with 400 ships currently awaiting transit.
It has been reported that Iran has begun implementing a new transit system for ships passing through the Strait of Hormuz, using Yuan and cryptocurrency. According to claims, approximately 400 vessels are lined up, while it is noted that some tankers are utilizing alternative flags and processing transactions through intermediary companies for safe passage.
It has been suggested that Iran has introduced a new payment system for commercial vessels wishing to transit through the Strait of Hormuz. Reports indicate that the Tehran administration requires transit fees to be paid in Chinese Yuan or cryptocurrency, while it is also stated that the Iranian navy provides security escorts for certain vessels. It is expressed that around 400 ships are waiting in line to transit through the strait. According to media reports, different tariffs have been offered to oil tankers waiting in the Persian Gulf, and some vessels have been directed to use alternative flags for passage. Some sources in the region report that priority is given to vessels from certain countries, while information and fees are requested from other vessels through intermediary companies linked to the Revolutionary Guards.
PAKISTAN FLAG RAISED
According to sources, Islamabad has contacted some of the world's largest commodity traders to see if there are any vessels that can temporarily sail under the Pakistani flag to pass through Hormuz. One of these individuals stated that Pakistan is looking for the largest vessels it can find in the region, including giant oil tankers capable of carrying 2 million barrels each. Government officials with direct knowledge of the maritime sector and negotiations have stated that the Revolutionary Guards are currently charging transit fees from vessels passing through the Strait and are granting privileges to vessels from countries they consider friendly.
FIRST TRANSITS HAVE BEGUN
It has been claimed that oil tankers paying in Yuan and cryptocurrency and fulfilling the protocol began to transit through the Strait of Hormuz yesterday. It has been learned that around 400 vessels are in line to pass through the strait under the new payment system and have applied to the intermediary companies referenced by the Revolutionary Guards. It is noted that approximately 1,900 vessels are stranded in Hormuz. The starting price for oil tankers is generally paid at 6.7 Yuan per barrel or in stable cryptocurrency. According to Bloomberg, the legal basis for Iran's transit fee application is unclear.
Source: SeaNews Türkiye
