The cost of passing through the Strait of Hormuz, reportedly, has been banned by Iran from being paid in US dollars or RMB.
According to a new bill proposed by Iran's parliament, all vessel fees must be paid exclusively in Iran's local currency, the rial. Parliamentarians stated: "No more USD, no more RMB."
This implies that the rial has found an anchor—using passage through the strait as a monetary anchor, preventing further depreciation. The significance parallels Russia’s move after the Ukraine conflict, when Moscow once declared it would accept only rubles for oil sales—essentially copying the playbook.
Related to the strait, Fars News Agency reported that Iran's jurisdiction over the strait also includes deep-sea global internet fiber-optic cables. Iran is considering designating these as strategic assets and granting Iranian companies technical control over pipeline management and maintenance.
The strait is not only the lifeline of oil shipments but also the chokepoint for global data, banking systems, cloud services, and communications.
One of Iran’s leverage points is demonstrating its ability to control key arteries of global energy flows and digital infrastructure, turning the Strait of Hormuz into a lever over oil markets, internet traffic, financial systems, and the lifelines of Gulf allies.
Thanks to Trump, he has made Iran great again.
Original source: toutiao.com/article/1864756189414473/
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