‘Indian friends are safe’, says Iran on Strait of Hormuz transit as IRGC reportedly charges $1 per oil barrel in yuan and stablecoins
Iran has assured India that its shipping interests are secure amid tensions on the Strait of Hormuz, with reports suggesting the IRGC is charging vessels around $1 per barrel of oil for safe passage. The move comes as Iran claims full control of the critical chokepoint, granting safe transit to friendly nations like India, China, and Russia.
Iran has indicated that Indian shipping interests are secure amid war-linked tensions on the Strait of Hormuz. The Islamic Revolutionary Guard Corps (IRGC) is reportedly charging vessels around $1 per barrel of oil for safe passage using non-dollar payment methods. Iran's embassy in New Delhi reassured Indians, saying they are in safe hands. The Strait of Hormuz is a critical chokepoint, with about 20% of global oil and LNG trade flowing through it. Iran claims full control of the strait, describing its actions as self-defence following US and Israeli strikes. Several Indian-flagged vessels have passed through the strait after coordination with Iran. The IRGC has established a toll system, with payments required in Chinese yuan or stablecoins.
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