Iran has proposed that transit fees for vessels passing through the Strait of Hormuz be paid in its national currency, the rial. The head of the Iranian Parliament’s National Security Commission stated that, under a parliamentary proposal, ships using this strategic waterway would be required to settle fees in Iran’s own currency.
The information was shared on Friday through a post on X (formerly Twitter) by the Iranian Consulate General in Mumbai.
Analysts told Al Jazeera this week that Iran and China are actively exploring ways to weaken the global dominance of the US dollar.
Various reports indicate that following attacks by the United States and Israel, Iran tightened its control over the Strait of Hormuz and effectively introduced a toll-like system. Under this arrangement, some commercial vessels were compelled to pay transit fees in Chinese yuan.
It remains unclear how many ships paid in yuan during the period of restrictions. However, according to Lloyd’s List, at least two vessels had paid fees in Iranian currency as of March 25.
Tehran proposes paying transit fees in Strait of Hormuz in Iranian currency
