Iran shifts shipping lane closer to its coast...“Pay in yuan or crypto” [Hormuz re-closure]

As the Islamic Republic of Iran, which has agreed to a two-week truce and end-of-war negotiations with the U.S., moves forward, Tehran is spelling out its specific policy for managing the Strait of Hormuz during the ceasefire. Iran intends to shift the shipping lane closer to its mainland, reduce the number of transiting vessels, and collect passage fees in virtual assets such as cryptocurrency.
■ Shipping lane shifted under Iran’s control
On August 8 (local time), the Islamic Republic of Iran, which had declared a two-week ceasefire with the U.S., allowed two dry bulk cargo ships to pass through the Strait of Hormuz early that day. The previous day, U.S. President Donald Trump had stressed that he agreed to the truce on the condition that the Strait of Hormuz—through which about 25% of the world’s seaborne oil once passed—would be fully reopened. However, Iran’s state-run Press TV claimed the same day that the Panama-flagged oil tanker Aurora turned back while attempting to transit the strait, asserting that the waterway had effectively been completely closed again.
According to Al Jazeera in the State of Qatar, the Ports and Maritime Organization of Iran said in a statement on the 8th that "all vessels seeking to pass through the Strait of Hormuz must coordinate with the Islamic Revolutionary Guard Corps (IRGC) Navy and use an alternative route." The agency stated that ships entering the Persian Gulf from the Indian Ocean must sail north of Larak Island before entering the gulf. At the same time, vessels leaving the Persian Gulf were instructed to pass south of Larak Island on their way back to the Indian Ocean. The organization stressed that this was a measure taken "in light of the wartime situation in the Persian Gulf and the possibility that naval mines may be present in the main shipping lane of the Strait of Hormuz."
However, compared with the previously used route through the strait, the alternative lane proposed by Iran lies much closer to Iranian territory. As a result, ships using the new route will find it difficult to escape the long-range weapons and surveillance capabilities of Iranian forces.
■ Transit fees in cryptocurrency and yuan
The Wall Street Journal (WSJ) reported on the 8th that the Islamic Republic of Iran had informed the truce mediators it would cap traffic through the strait at an average of 12 ships per day during the ceasefire. Before the war, in February, about 135 vessels passed through the strait daily. On the 8th, only four dry bulk cargo ships were confirmed to have transited the waterway, and not a single oil tanker passed. That day, the IRGC Navy sent radio messages to ships near the strait, ordering them to coordinate with the IRGC before transiting and warning that any vessel attempting to pass without authorization could be destroyed.
Tehran also plans to implement, during the truce, its previously announced scheme to collect transit fees. Under this three-tier system, ships carrying Iranian crude oil or goods will pass free of charge, vessels from friendly countries will pay a fee of about one U.S. dollar per barrel of oil on board, and ships linked to the U.S. or the State of Israel will be blocked altogether. The fees will be collected in Chinese yuan (CNY) or cryptocurrency.
Hamid Hosseini, spokesperson for the Iranian Union of Oil, Gas and Petrochemical Products Exporters, told the Financial Times (FT) in an interview the same day that the Islamic Republic of Iran plans to levy transit fees on all oil tankers passing through and inspect each vessel. "Over the next two weeks, Iran must monitor ships entering and leaving the strait to ensure they are not being used to transport weapons," he argued. He went on to explain, "All ships will be able to pass, but the procedures for each vessel will take time, and Iran will not rush."
Hosseini said that every tanker will be required to notify the authorities of its cargo by email, after which Iran will inform the ship of the transit fee to be paid in digital currency. He explained that tankers not carrying oil will be allowed to pass freely. Hosseini added that once Iranian screening is complete, ships will have "a matter of seconds" to pay the fee in cryptocurrency, describing this as a way to prevent funds from being tracked or seized under international sanctions.
■ Strait access tied to Lebanon ceasefire
According to Cable News Network (CNN), the Strait of Hormuz was effectively sealed off immediately after the State of Israel began bombing Lebanon. The State of Israel, which is attacking Hezbollah, the Iran-aligned armed group in Lebanon, announced on the 7th that it supports the U.S. ceasefire declaration, but drew a clear line by saying the Lebanese front would be excluded. On the 8th, the State of Israel carried out airstrikes on about 100 targets across Lebanon, killing at least 182 people and injuring around 900.
Benjamin Netanyahu, the Israeli prime minister who has been attacking the Islamic Republic of Iran alongside the U.S. since February, declared on the 8th that "we will achieve our objectives, whether through an agreement or through combat," adding, "Israel still has many goals left to accomplish." The same day, President Donald Trump said in an interview with Public Broadcasting Service (PBS) that the State of Israel’s strikes on Lebanon "are not included in the ceasefire agreement." On August 11 in the Islamic Republic of Pakistan, where end-of-war talks with the Islamic Republic of Iran are being held, U.S. Vice President James David Vance also told reporters on the 8th, "Iran seems to have believed the ceasefire would include Lebanon, but that was not the case. Neither we nor the State of Israel ever said that Lebanon would be part of the ceasefire agreement." He warned, "What we proposed was a ceasefire, and what Iran offered was the reopening of the Strait of Hormuz. If Iran breaks its promise, we will not keep ours either."
Meanwhile, media outlets in the United Arab Emirates (UAE) reported that Houthi rebels in the Republic of Yemen have suggested they could impose transit fees in the Bab el-Mandeb Strait, which connects the Red Sea and the Indian Ocean, in a manner similar to the Strait of Hormuz.
pjw@fnnews.com Reporter Park Jong-won Reporter