Iran is negotiating with eight countries to allow passage through the Strait of Hormuz on the condition that oil is traded in Chinese yuan, CNN reported on the 17th. Following reports that these countries are considering a plan to permit ships from nations trading oil in yuan to pass through the strait, they are said to have contacted Iran to seek an agreement.
CNN cited an Iranian security source on the same day, reporting, “Iran is in discussions with eight non-Middle Eastern countries regarding a proposal to guarantee safe passage for oil traded in the Chinese yuan.” The source added, “Separately from maintaining current blockade measures, Iran is also considering more comprehensive plans to manage maritime traffic through the strait.”