CNN: Iran May Allow Tankers Through Hormuz Only in Chinese Currency

CNN, citing a senior Iranian official, has reported that Iran is considering allowing several oil tankers to pass through the Strait of Hormuz. According to the unnamed official, the permits would only be granted if the transactions are conducted in the Chinese yuan, the country’s national currency.

The report suggests that as tensions in the region continue to rise, the Islamic Republic is attempting to regulate tanker traffic through the Strait of Hormuz according to conditions set by Tehran.

Such a move represents a form of economic warfare often described as “de-dollarization.” By insisting on payments in yuan, Iran is trying to bypass the U.S. financial system and Western sanctions. This approach could force international buyers into a difficult choice: comply with U.S. financial regulations or risk losing access to energy supplies. It also signals a strategic effort to bring China into the equation as a potential “security guarantor” for the strait, effectively using Beijing’s economic influence as a counterweight to further U.S. military escalation.

These remarks came as U.S. President Donald Trump announced early Saturday morning, March 14, that strikes had been carried out against military targets on Iran’s Kharg Island. Trump said that no attacks had yet been directed at Iran’s oil infrastructure but warned that any interference with the safe passage of ships could change that situation.

In response to Trump’s warning, the “Khatam al-Anbiya” Headquarters stated that any strike on energy facilities on Kharg Island would trigger “retaliatory strikes” against oil infrastructure across the region belonging to companies owned by or cooperating with the United States.

Kharg Island is Iran’s main oil export terminal and is responsible for roughly 90% of the country’s crude exports. The island functions as a heavily fortified industrial hub in the Persian Gulf. Trump’s distinction between targeting “military targets” on the island - such as air defense systems or IRGC radar installations - and striking “oil infrastructure” like loading docks and storage tanks is widely viewed as a final warning. A direct attack on the export facilities would effectively cripple Iran’s economy, while retaliatory strikes on Arab or U.S. energy assets could send shockwaves through the global economy.

Earlier, The Wall Street Journal reported that before the war between the United States, Israel, and Iran began, the Chairman of the Joint Chiefs of Staff had warned that such a conflict could lead to the closure of the Strait of Hormuz.

The Islamic Republic now appears to be using the Strait of Hormuz as a strategic pressure point against the United States and Israel during the war. Over the past two weeks of conflict, oil prices have fluctuated sharply, prompting the G7 nations and the United States to consider releasing strategic reserves to stabilize global energy markets.