Iran has made a noteworthy statement regarding transit fees through the Strait of Hormuz. The country’s central bank announced that the initial transit fee collected from ships passing through the strait is paid in “cash foreign currency.”
The Iranian Central Bank stated that the payment was deposited directly into bank accounts in foreign currency. This statement comes after earlier allegations that toll fees were being collected in cryptocurrency.
Earlier in the day, Haji Babae, the deputy speaker of the Iranian Islamic Parliament, also confirmed in a statement that the first payment had been received and transferred to the Central Bank accounts.
Disputes between Iran and the US over the Strait of Hormuz continue. Today, US President Donald Trump announced that he has tripled the size of the task force used to clear mines in the Strait of Hormuz. Meanwhile, it was announced that four Iranian cargo ships successfully crossed the Strait of Hormuz despite the US blockade.
*This is not investment advice.