Iran’s Revolutionary Guard (IRGC) has begun imposing a formal toll system on vessels transiting the Strait of Hormuz, charging fees in Chinese yuan and requiring ships to fly the flags of “friendly” nations to avoid attack, Bloomberg reported, citing shipping industry sources and government officials. Payments for the transit are being demanded in Chinese yuan or stablecoins, digital currencies pegged to major fiat assets, sources told Bloomberg on condition of anonymity. The offer, facilitated by the Pakistani government, was contingent on the vessel re-registering and flying the Pakistani flag. Internal discussions indicate that Islamabad has contacted major global commodity traders to secure vessels that could temporarily fly the Pakistani flag to transit the Strait. Iran’s semi-official Fars news agency reported that the National Security Committee has already approved a draft law to formalise these transit fees.

Source: Daily News Egypt April 04, 2026 17:47 UTC