Iran will allow tankers through the Strait of Hormuz if their oil is traded in Chinese yuan

Iran is considering allowing limited passage of oil tankers through the Strait of Hormuz, provided that their cargo is traded in Chinese yuan, a senior Iranian official told CNN.

In recent years, China has been trying to “break through“ buying oil in yuan“, especially from Saudi Arabia, the media noted.

Earlier, the spokesman for the Iranian Revolutionary Guard Corps, Sardar Naini, said that Iran’s armed forces would not allow the transportation of “one liter of oil“ through the Strait of Hormuz amid ongoing Israeli and US aggression.

CNN reports that oil prices rose on Friday, March 13, on concerns about the effective closure of the Strait of Hormuz. Brent crude, the international benchmark for oil, rose 2.67% to $103.14 a barrel, its highest level since July 2022.

Concerns about the Strait of Hormuz “overwhelmed price relief efforts“ by the International Energy Agency and the United States, the report said