Why Is Iran Pushing Rial Payments In Hormuz

Iran is considering a proposal to require ships transiting the Strait of Hormuz to pay fees in its national currency, the rial, according to a statement cited by its Mumbai consulate.

The move follows earlier reports that vessels were charged in Chinese yuan during Iran’s recent blockade of the key shipping route.

Head of Iran’s Parliament National Security Commission:

Under a parliamentary proposal, transit fees through the Strait of Hormuz would be paid in Iran’s national currency, the #rial.#Iran #Hormuz #StraitOfHormuz pic.twitter.com/0wY2Wy8pUb

— Consulate General of the I.R. Iran in Mumbai (@IRANinMumbai) April 10, 2026

Analysts told Al Jazeera that Iran, along with China, may be attempting to challenge the dominance of the U.S. dollar in global trade.

According to Lloyd’s List, at least two vessels had already paid fees in yuan during the disruption, though the scale remains unclear.

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