【By Observer News, Xiong Chaoran】The ongoing war in the Middle East is intensifying global concerns about the potential blockade of the Strait of Hormuz. It has been reported that Iran is weighing the conditions under which ships can pass through the strait.

On March 13 local time, CNN cited a senior Iranian official's statement saying that Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz, provided that the oil cargo carried by these tankers must be settled in RMB.

The source added that Iran is currently working on developing a new plan to manage the passage of oil tankers through the Strait of Hormuz, and the aforementioned potential measures were proposed in this context.

CNN stated that international oil trade is almost entirely settled in US dollars at present, with the only exception being Russian oil under sanctions, whose transactions are conducted in rubles or RMB.

Over the past few years, China has been striving to promote the purchase of oil using RMB, especially in Saudi Arabia. However, the US dollar remains the world's main reserve currency.

Photo: On June 24, 2025, ships sailing through the Strait of Hormuz from Oman. IC Photo

Amid the ongoing conflict in the Middle East, Iran recently announced the closure of the Strait of Hormuz. On March 12 local time, Iran's Supreme Leader Mojtaba Hashemi declared his first speech since taking office, emphasizing that Iran should continue to block the Strait of Hormuz to pressure its enemies.

The Strait of Hormuz lies between Oman and Iran, connecting the eastern Gulf of Oman and the western Persian Gulf. It is a crucial waterway for the Persian Gulf and one of the most important crude oil trade routes in the world. Approximately one-fifth of the world's daily crude oil and liquefied natural gas passes through the Strait of Hormuz. If it were to close, it could have an impact on global oil and gas exports.

Bloomberg described on March 2 local time that the actual closure of the Strait of Hormuz would be a "seismic" shock to the global oil market.

Currently, the anxiety over the Strait of Hormuz, a vital artery for global energy transportation, has pushed oil prices to their highest level since July 2022 — the first summer after the outbreak of the Russia-Ukraine conflict.

On March 13 local time, the United Nations issued a warning that if restrictions are imposed on the passage of ships through the Strait of Hormuz as the conflict continues, it would have a "huge impact" on humanitarian relief efforts.

Tom Fletcher, the UN Deputy Secretary-General for Humanitarian Affairs, said: "Once ships stop passing through the strait, the consequences will quickly spread. At that time, the transport of food, medicine, fertilizers, and other various supplies will become increasingly difficult, and the cost of transportation will also rise sharply."

Iran's Deputy Foreign Minister Lavarchi previously stated that Iran allows ships from certain countries to pass through the Strait of Hormuz, but countries involved in the aggression against Iran do not have the "safe passage rights" through the Strait of Hormuz.

Recent situation of access to the Strait of Hormuz, with almost all vessels passing through the strait completely halted. Bloomberg map

On March 12 local time, CNN cited multiple informed sources reporting that the U.S. Department of Defense and the White House National Security Council severely underestimated Iran's determination to block the Strait of Hormuz in retaliation for U.S. military strikes during the current military operation. These sources said that President Trump's national security team failed to fully assess the potential consequences of the military action. Some officials believe that the Trump administration is now facing the worst-case scenario.

Although key officials from the U.S. Treasury and Energy Departments participated in some formal preparatory meetings before the start of the conflict, the analysis and predictions from these two departments are usually considered essential core elements in the decision-making process of previous governments. However, in this government's decision-making, they became secondary considerations.

Informed sources acknowledged that the U.S. Treasury Secretary and Energy Secretary have played an important role throughout the planning and execution stages of the military operation. However, President Trump tends to rely on a close-knit group of advisors in national security decisions, which effectively marginalized the debates among departments regarding potential economic consequences — that is, what kind of economic shocks would occur if Iran were to block the Strait of Hormuz in retaliation against the U.S. and Israel.

Several current and former U.S. officials told CNN that when considering any military action plan targeting Iran, the U.S. typically considers the possibility of Iran closing the Strait of Hormuz. For a long time, the U.S. military has maintained and updated plans to respond to Iran's military actions in this critical waterway.

However, given the current global oil and liquefied natural gas supply is sufficient, U.S. oil production has reached record levels, and the Trump administration is enjoying the "compliance" of the current Venezuelan government and expects a former adversary country to rapidly expand its new production potential, the scale of downside risks globally was not seen as a primary consideration by the U.S.

CNN pointed out that the severe reality of the current crisis in the Strait of Hormuz has left those interviewed former foreign affairs officials, former U.S. economic and energy officials, and industry executives confused and incredulous.

A former U.S. official who served in both Republican and Democratic administrations said: "Although this scenario has long seemed impossible, planning for how to prevent this specific scenario has been a 'cornerstone principle' of U.S. national security policy for decades. Now witnessing the current situation, I am speechless."

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Original: toutiao.com/article/7616899172428202532/

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