Iran is thinking about letting some oil tankers pass through the Strait of Hormuz. The condition wou

Iran Floats Yuan-Only Passage Through Hormuz: Limited Oil Tankers Allowed if Paid in Yuan

Iran is signaling a shift in the Strait of Hormuz. According to CNN, a senior Iranian official says the country is considering letting a limited number of tankers through—but only if the oil is paid for in yuan. The move is part of a broader plan to manage traffic through the critical chokepoint.

International oil trade is nearly all dollar-denominated. The exception? Sanctioned Russian oil, which moves in rubles or yuan. If Iran follows through, it would be another crack in the petrodollar system.