Iran Considers Yuan-Based Oil Payments for Strait of Hormuz Transit

Iran is reportedly contemplating allowing limited oil tanker transit through the Strait of Hormuz, contingent upon payments being made in Chinese yuan. According to NS3.AI, this move comes as approximately 18 million barrels per day of oil supply remain offline. Analysts have expressed skepticism about the feasibility of enforcing yuan-based settlements, suggesting that such a policy could provoke political countermeasures. Additionally, the report indicates that China and India might be able to restore nearly 7 million barrels per day of supply if broader passage through the strait is confirmed.