The Strait of Hormuz crisis continues to deepen as Iran tightens control over global shipping. Reports suggest vessels are not only being rerouted but also asked to pay transit tolls in cryptocurrency or Chinese yuan. Traffic remains minimal, with just a handful of ships crossing and no oil tankers moving through, disrupting global energy flows. The move comes amid tensions with Israel and a fragile ceasefire with the United States. With sanctions limiting dollar transactions, Tehran’s new payment system could reshape trade dynamics. As confusion grows and risks rise, the Strait is operating in a controlled, uncertain state with major implications for global markets.

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