Iran reportedly considering allowing some oil tankers to pass through the Strait of Hormuz, on the condition that the oil cargo must be settled in Chinese yuan

Odaily News According to a report by CNN on March 13 local time, citing a senior Iranian official, Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz, on the condition that the oil cargo carried by these tankers must be settled in Chinese yuan. The source added that Iran is currently working on developing a new plan to manage the passage of oil tankers through the Strait of Hormuz, and the aforementioned potential measure is being proposed in this context. CNN stated that international oil trade is currently almost entirely settled in US dollars, with the only exception being sanctioned Russian oil, which is traded in rubles or Chinese yuan. (Observer.com)