Iran may allow oil tankers through Strait of Hormuz trading in Chinese yuan

Iran may allow oil tankers through Strait of Hormuz trading in Chinese yuan Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that the oil cargo is traded in Chinese yuan, CNN reported, quoting a senior Iranian official. The official said Tehran is working on a new plan to manage tanker traffic through the strategic waterway. Most international oil is traded in US dollars, though sanctioned Russian oil has increasingly been sold in roubles or yuan as China pushes to expand the use of its currency in global energy markets.