- The Iranian navy is reportedly escorting foreign tankers through the Strait of Hormuz in exchange for substantial fees, paid in Chinese yuan or stablecoins.
- This system has emerged amidst Iran's selective blockade of the vital waterway, which has cut traffic by 90% and contributed to rising global oil prices.
- Ships undergo a vetting process to ensure no links to the US, Israel, or other perceived hostile states, with fees potentially varying based on a nation's 'friendliness' to Iran.
- Successful payment grants access to a specific route and a secret passcode, allowing for an escorted passage through the channel, with some ships raising the flag of the negotiating nation.
- Britain is hosting talks today with 35 countries, including France and Germany, to discuss reopening the Strait of Hormuz, after Donald Trump stated it was the responsibility of other nations.
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