Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that their cargo is priced in Chinese yuan, a senior US official told CNN. The potential move comes as Tehran develops a new plan to regulate the flow of tankers through the waterway, the official added. Global oil trade is predominantly conducted in US dollars, with the exception of certain sanctioned exports, such as Russian oil, which is occasionally sold in roubles or yuan. An Indian government official confirmed that two liquefied petroleum gas (LPG) tankers had crossed the Strait of Hormuz but noted that 22 Indian-flagged vessels remain west of the waterway. Trump indicated he might reconsider the decision to avoid targeting oil facilities and infrastructure on the island if navigation in the Strait of Hormuz faces further threats.

Source: Daily News Egypt March 14, 2026 20:35 UTC