A report has emerged that Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz, provided the oil cargo is traded in Chinese yuan.
The potential move comes as the Islamic Republic is working on a new plan to manage the flow of oil tankers through the strategic waterway.
Iranian Foreign Minister Abbas Araghchi said the Strait of Hormuz is open to all countries except the United States and Israel, citing "security concerns" as the reason for the blockade.
Iran is considering a limited number of oil tankers to pass through the Strait, provided they trade in Chinese yuan, in a move that could further challenge the dominance of the US dollar in global oil trade.
