Stablecoins Enter Oil Trade as Iran Bypasses Dollar System: Global Trade Shift?
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- Iran is charging roughly $1 per barrel for Hormuz transit, about $2 million per VLCC.
- Payments are being made in yuan, rials, or stablecoins, bypassing the US dollar and SWIFT.
- Traffic has dropped, risks have surged, and energy and insurance costs are rising.
A new payment flow is forming in the global oil trade. Iran is now charging ships passing through the Strait of Hormuz using Chinese yuan and stablecoins, cutting out the US dollar.
As per reports, the ships have already started paying to pass. Iran has moved to control the Strait of Hormuz, a route that handles roughly 20% of global oil supply. The country is charging around $1 per barrel for transit.
Dollar Bypass Becomes Operational
A standard Very Large Crude Carrier (VLCC) carries about 2 million barrels, putting the toll near $2 million per ship.
To pass, ship operators must submit full vessel d…
Read The Full Article Stablecoins Enter Oil Trade as Iran Bypasses Dollar System: Global Trade Shift? On Coin Edition.
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