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🇮🇷 Iran is reportedly taking payment in the form of Chinese yuan and cryptocurrency for ships to pass through the Strait of Hormuz.

The payments are part of an arrangement that is becoming increasingly institutionalised after a month of war with the US and Israel, multiple people with knowledge of the situation told Bloomberg.

Oil tankers are facing tolls in the range of $1 per barrel of oil, the sources told the newswire. That equates to about $2m for a VLCC.

Iran is running a “de facto ‘toll booth’ regime” in the Strait of Hormuz, controlling which ships come through and getting payment for their safe passage, a leading shipping intelligence firm says.

Lloyd’s List Intelligence publishes an analysis highlighting Iran’s practices through the strait.

It described vessels having to provide manifests, crew details and their destination to Iran’s paramilitary Revolutionary Guard.

The information goes to the Guard’s “Hormozgan Provincial Command for sanctions screening, cargo alignment checks that currently prioritizes oil over all other commodities, and for what is described as ‘geopolitical vetting,’” Lloyd’s List says.

“While not all ships are paying a direct toll, at least two vessels have and the payment is settled in yuan,” Lloyd’s List says, referring to China’s national currency.

Such payments likely would run afoul of American and European sanctions on the Guard, a key power center within Iran that controls its ballistic missile arsenal and was key in suppressing nationwide protests in January.

Iran has not directly explained the process for ships to go through the strait, though a Foreign Ministry spokesperson has appeared to acknowledge Tehran is receiving payments for some ships in an interview.

🇮🇳 India has approved the purchase of S-400 anti-aircraft missile systems, transport aircraft, and strike drones from Russia as part of a major military modernization program.

The deal, valued at $25 billion, was confirmed by the country's Ministry of Defense on March 27.

The defense package also includes armor-piercing tank ammunition, artillery systems, aerial surveillance equipment, and hovercraft for the coast guard, alongside a life-extension program for Su-30 fighter jets, according to Reuters.

A separate contract worth 4.45 billion rupees ($47 million) was signed with Russia’s Rosoboronexport for the supply of Tunguska anti-aircraft missile systems for the ground forces.

According to the Ministry's statement, India approved a total of 55 defense proposals worth 6.73 trillion rupees ($71 billion) during the current fiscal year ending March 31, with contracts signed for an additional 503 proposals.

🇺🇸 Donald Trump:

I hang out with losers because it makes be feel better. I hate guys that are very, very successful and you have to listen to their success stories. I like people that like to listen to my success.

Trump: I hang out with losers because it makes be feel better. I hate guys that are very, very successful and you have to listen to their success stories. I like people that like to listen to my success. pic.twitter.com/MzRyStddka

— unusual_whales (@unusual_whales) March 28, 2026

Trump: I hang out with losers because it makes be feel better. I hate guys that are very, very successful and you have to listen to their success stories. I like people that like to listen to my success. pic.twitter.com/OYNXspphxo

— Acyn (@Acyn) March 27, 2026

Trump:

I always like to hang out with losers because it makes be feel better.

I hate guys that are very, very successful and you have to listen to their success stories.

I like people that like to listen to my success. pic.twitter.com/w8zM5amBKV

— Clash Report (@clashreport) March 28, 2026