alt Hacker NewsThe Straight of Hormuz is open to any country willing to pay $2M per voyage. Any country except the U.S. and Israel.
The most important aspect of the "toll" is that Iran prefers payment in yuan, not dollars.
If Iran succeeds in nationalizing the Straight and is successful in enforcing the toll, it represents a very serious threat to the dominance of the U.S. Dollar as the world's reserve currency for trading energy.
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Seems pretty unlikely that the Yuan is going to be the dominant world currency, given its capital controls.
It would legitimately be hilarious though if the result of this conflict was iran being the one to enact regime change. In terms of the global order
No one in the US asked for this. Such a dumb move from the current administration.
idk this move, along with firing missiles even to non-combatant countries, is going to fuk-up iran...
I mean, even before the $2M toll, if you're kuwait/UAE/saudi/etc, what choice do you have? form a coalition against iran
now.. with that $2M toll, iran just learnt it can just toll the ships...
so what choice do all those strait-using countries have? pay $2M or more, even after US leaves?
nope... they'll form a coalition against iran
it's highly unfortunate that trump started the war, but iran's way of things are just making more enemies -- it'll pay with regime change within few months
But Iran let the International Maritime Org that anyone who is not US/Israel or not attacking or supporting attacks on them can pass through the strait of Hormuz. Is the $ 2M still a thing?
> The Straight of Hormuz is open to any country willing to pay $2M per voyage. Any country except the U.S. and Israel.
The straight is not physically closed by Iran. It's closed by insurance companies which asking a very high war risk insurance premiums. Even if you pay $2M it unlikely will reduce the cost of insurance. That's why very few ships are choosing this option (and some of them are shadow fleet tankers which probably have no insurance).