INTERESTING: Iran is effectively running a “tollbooth” in the Strait of Hormuz, allowing ships from friendly countries to pass — for a price.
Vessels must submit ownership and cargo details to an IRGC-linked intermediary, undergo background checks, and negotiate fees — typically starting at about $1 per barrel for oil tankers.
Payments are reportedly made in Chinese yuan or crypto (stablecoins). Approved ships receive a permit code and naval escort. Some are even asked to temporarily change flags to countries like Pakistan to qualify.
Source: Bloomberg
Vessels must submit ownership and cargo details to an IRGC-linked intermediary, undergo background checks, and negotiate fees — typically starting at about $1 per barrel for oil tankers.
Payments are reportedly made in Chinese yuan or crypto (stablecoins). Approved ships receive a permit code and naval escort. Some are even asked to temporarily change flags to countries like Pakistan to qualify.
Source: Bloomberg
