PiCK
Iran to Limit Strait of Hormuz Transit to 15 Ships a Day During Ceasefire, Tass Reports
Summary
- Iran plans to limit the number of ships passing through the Strait of Hormuz to 15 a day during its ceasefire with the US.
- Iran said it would collect Strait of Hormuz transit fees in Bitcoin (BTC) to prevent funds from being tracked or seized because of sanctions.
- The Strait of Hormuz, the ceasefire, and Iran's plan to use Bitcoin (BTC) are key variables for oil and gas shipments and the digital-asset market.
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Iran plans to limit traffic through the Strait of Hormuz to 15 ships a day during its ceasefire with the US.
Russia’s state-run Tass news agency, citing an unnamed senior Iranian source, reported July 9 that Tehran plans to allow only 15 vessels a day to pass through the strait during the truce, according to local media reports including The Times of Israel. Keeping the Strait of Hormuz open is one of the conditions of the ceasefire agreement between the US and Iran.
Hamid Hosseini, spokesman for the Iranian Oil, Gas and Petrochemical Products Exporters' Union, told the Financial Times in an interview published July 8 that Iran would collect Strait of Hormuz transit fees in Bitcoin. Once Iran completes its screening, ships will be given time to make the payment in Bitcoin within seconds, he told the newspaper. The measure is intended to prevent funds from being tracked or seized because of sanctions.
The US and Iran are set to hold their first ceasefire talks on July 11 in Islamabad, Pakistan, which mediated the truce.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
