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Tanker ships must pay Iran’s Revolutionary Guards a toll in Chinese yaun or crypto before they can pass Strait of Hormuz: report

Ronny Reyes | New York Post — Fri, 03 Apr 2026 19:59:23 +0000

Ships attempting to pass through the Strait of Hormuz will need secret codes and to pay up to $2 million in Chinese yuan or cryptocurrencies to avoid being attacked by Iran, according to a new report.

After Iran’s lawmakers approved a bill to impose fees on the safe passage through the Strait of Hormuz this week, new guidelines have been set for tankers and cargo ships to buy their way through with a company linked to the Islamic Revolutionary Guard Corps, sources familiar with the deal told Bloomberg.

Once the IRGC has the ship’s files on hand, the vessel would need to fly the flag of a non-enemy nation and transmit a secret, high-frequency code to alert the Iranian navy so that it may guide the ship through the strait.

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Source: https://nypost.com/2026/04/02/world-news/tanker-ships-must-pay-irans-revolutionary-guards-a-toll-in-chinese-yaun-or-crypto-before-they-can-pass-strait-of-hormuz-report/?fbclid=IwY2xjawRA6htleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEeNX4WLbYgHJsCzGQotrb6UP_LLu_pQyp9F3y1gRAtrbhEeovq8iUrm-bkJgo_aem_8DOKmNx54IIarQzPDGR4tA

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China state banks seen selling US dollars to prop up yuan – sources

Reuters — Wed, 26 Jul 2023 19:43:57 +0000

SHANGHAI/BEIJING, July 25 (Reuters) – China’s major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency.

China’s state banks usually trade on behalf of the central bank in the country’s foreign exchange market, but they could also trade on their own behalf.

The dollar sales come after China’s top leaders pledged on Monday to step up policy support for the economy amid a tortuous post-COVID-19 recovery, focusing on boosting domestic demand and signalling more stimulus steps.

Policymakers also said China will keep the yuan exchange rate basically stable at reasonable and balanced levels, and vowed to invigorate the capital market and restore investor confidence.

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Source: https://www.reuters.com/markets/currencies/china-state-banks-seen-selling-us-dollars-prop-up-yuan-sources-2023-07-25/

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US dollar-yuan divergence trade could spin out of control without intervention from China soon

David Brown | South China Morning Post — Fri, 23 Jun 2023 22:00:16 +0000

US dollar-yuan divergence trade could spin out of control without intervention from China soon

The US dollar-China yuan currency divergence trade is in full flow. Unless Beijing gets a grip on the exchange rate soon, the yuan could hit 15-year lows very soon.

It’s a dilemma for the government as a weaker yuan might be good news for China’s hard-pressed exporters, but it could also open Beijing up to fresh accusations from Washington of currency manipulation. This would be bad timing, especially after US Secretary of State Antony Blinken’s visit to China this week for talks to help stabilise the fraught relationship between the two nations.

It’s the divergence between rising US interest rates and lower rates in China which is the problem, while the rising spread of US bond yields over China is giving added momentum to the stronger dollar-weaker yuan trade. The worry is there is no end in sight with the US Federal Reserve fretting over inflation while Beijing is more concerned about hitting its 5 per cent growth target for 2023. The dollar-yuan divergence trade could get out of hand quickly without intervention soon.

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Source: https://www.scmp.com/comment/opinion/article/3224571/us-dollar-yuan-divergence-trade-could-spin-out-control-without-intervention-china-soon

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Exclusive: Pakistan’s Russian crude shipment paid in Chinese currency – minister

Ariba Shahid and Asif Shahzad | Reuters — Mon, 12 Jun 2023 18:34:23 +0000

ISLAMABAD, June 12 (Reuters) – Pakistan paid for its first government-to-government import of discounted Russian crude in Chinese currency, the South Asian country’s petroleum minister said on Monday, a significant shift in its U.S. dollar-dominated export payments policy.

Discounted crude offers respite as Pakistan faces an acute balance of payments crisis, risking a default on its debt obligations. The foreign exchange reserves held by the central bank are scarcely enough to cover four weeks of controlled imports.

The first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow earlier this year arrived in Karachi on Sunday. It is currently being offloaded at the port in the southern city of Karachi.

Petroleum Minister Musadik Malik, talking to Reuters by phone, did not disclose the commercial details of the deal, including pricing or the discount that Pakistan received, but said the payment was made in Chinese currency.

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Source: https://www.reuters.com/markets/commodities/pakistans-russian-crude-shipment-paid-chinese-currency-minister-2023-06-12/

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Sasse: Saudi oil deal with China is ‘big, bad thing,’ that could be sign of global shift away from US

Ronn Blitzer | Fox News — Mon, 21 Mar 2022 13:13:50 +0000

Sasse warned of what could happen if other countries view the U.S. as ‘weak.’

News that Saudi Arabia is considering pricing oil sales to China using the Chinese yuan instead of the U.S. dollar has Sen. Ben Sasse, R-Neb., concerned the U.S. could be losing its footing on the world stage.

In an interview with “Fox News Sunday,” Sasse said this development, along with how the war between Russia and Ukraine develops, could send a message to the rest of the world that could have a significant impact.

SAUDI ARABIA CONSIDERS ACCEPTING YUAN INSTEAD OF DOLLARS FOR CHINESE OIL SALES

“Just this point of the Saudis pricing some of their commodity in Chinese currency or signaling that that’s where they’re headed, that is a big, bad thing,” Sasse said. “But let’s take a bigger step up. The 10-year-out existential battle on the globe is between the United States and Western values against the Chinese Communist Party’s exported surveillance state oppression of peoples around the globe.”

Sasse then addressed why, if China is really a main concern, he is so worried about Russia and Ukraine.

“Partly because Chairman Xi greenlit this invasion,” Sasse explained. “And so we need to recognize that defeating Vladirmir Putin or helping the Ukrainians defeat Putin here is an important shot across the bow of Chairman Xi, who wanted to see if the West had any will to stand up to Putin because Xi desires to seize Taiwan.”

STATE DEPT REFUSES TO DETAIL ‘RED LINE’ IF CHINA PROVIDES SUPPORT TO RUSSIA AMID WAR IN UKRAINE

Sasse went on to say that China’s objective of trying to “displace the dollar” is something the U.S. must monitor.

“We need to keep our eye on this because we need to demonstrate that freedom-loving peoples around the world would rather have U.S. leadership than Chinese oppression,” Sasse said.

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Sasse claimed that other countries would not gravitate toward China out of preference for its policies but out of concern that “America is weak.”

“We need our commander in chief to be strong, both in these conversations with Chairman Xi but more proximately in this moment with arming the Ukrainians immediately and rapidly,” Sasse concluded.

Source: https://www.foxnews.com/politics/sasse-saudi-oil-deal-china-big-bad-thing-global-shift-from-us

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Op-Ed: Iran and China close to large military and trade partnership deal

Ken Hanly — Tue, 14 Jul 2020 11:36:13 +0000

Iranian officials are reporting that Iran and China are close to signing a major deal that would expand security ties and economic ties including the banking sector. The exact terms have not yet been announced.

Deal would advance both Chinese and Iranian interests

The US is interested in isolating Iran as much as it can and China also. The US State Dept. has threatened to impose more costs on both Iran and China if they follow through with the deal. The US has no right to punish sovereign countries for freely engaging in trade deals. The US uses its economic clout to impose sanctions on other countries whose policies it opposes and then tries to force other countries to follow the sanctions or be punished by possible loss of all trade with the US. The US also uses its power over international financial organizations such as SWIFT to impose its own policies. The EU has already set up its own international system outside of SWIFT. While the US dollar still predominates in international trade the Euro and the Chinese Yuan are increasingly used. In dealing with countries such as Cuba or Iran the US dollar is avoided.

The US is angry with recent delivery of fuel to Venezuela from Iran by five tankers. China is a much more powerful country than Iran or Venezuela. No doubt more countries will challenge the US and increase trade with countries that the US wants to hurt with economic sanctions. China is showing that it is strong enough to challenge US dominance and ignore US threats.

China has much to gain by big deal with Iran

The agreement would provide China with a huge presence within Iran’s economy, including telecommunications, ports, railways, and banking. In return the Chines will get a substantial discount on Iranian oil over the next 25 years. The US has been trying to cut off Iran from selling its oil internationally but has obviously failed to do so,.

China is heavily dependent on Mideast getting access to Iranian oil especially at a discount would be big economic gain. Other nations may also be encouraged to challenge US sanctions on Iranian oil sales.

As part of the deal, China would agree to joint military training with Iran and joint weapons research. The two countries may hope that a strong Chinese presence in Iran may lessen the risks of US or Israeli military attacks. The development of trade with China may ease the negative effect that US sanctions policy has on Iran. Indeed, US sanctions policy may be having the negative effect of creating closer relations between countries that the US considers enemies.

This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com

Source: http://www.digitaljournal.com/news/politics/op-ed-iran-and-china-close-to-large-military-and-trade-partnership-deal/article/574771

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