Iran is reportedly considering allowing a limited number of oil tankers to pass through the Strait of Hormuz, provided that the oil cargo is traded in Chinese yuan, CNN reported citing a senior Iranian official.
According to the official, Tehran is developing a new plan to regulate tanker traffic through the strategically important waterway.
Most global oil trade is conducted in US dollars, although sanctioned Russian oil has increasingly been sold in roubles or yuan as China seeks to expand the international use of its currency in energy markets. (Agencies)
