Iran charges transit fees in yuan through Strait of Hormuz in bid to counter US dollar

Iran has begun charging transit fees in Chinese yuan for vessels passing through the strategic Strait of Hormuz, leveraging its control over a vital global oil and gas shipping route to challenge the dominance of the US dollar. This marks a significant step in the deepening economic cooperation between Iran and China, aligning with Tehran’s efforts to evade US sanctions and Beijing’s broader push to internationalize the yuan. Official reports confirm at least two commercial vessels have already