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Iran Moves to Formalize Toll Plan in Strait of Hormuz​

Tehran has effectively closed off the critical waterway, turning back container ships on Friday, and Iranian lawmakers are considering whether to formalize charging fees to pass.


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Large ships in the distant haze loom over small vessels in the foreground.

Iran has effectively cut off traffic through the Strait of Hormuz, leaving thousands of vessels idling on either side of it.Credit...Associated Press
Euan Ward
By Euan Ward

Reporting from Beirut, Lebanon
March 27, 2026
See more of our coverage in your search results.Add The New York Times on Google
Iran’s Parliament is moving to formalize fees for ships passing through the Strait of Hormuz, the portal to the Persian Gulf that is among the world’s most vital waterways, even as it has slowed traffic there nearly to a standstill.

Legislation before the Parliament would require vessels transiting the strait to pay tolls under a framework Iranian lawmakers described as asserting Tehran’s “sovereignty, control and oversight” over the passage, according to reports by Fars and Tasnim, two semiofficial news agencies affiliated with Iran’s security forces. Since the U.S.-Israeli attack on Feb. 28, some fees had been charged on an ad hoc basis under what appears to be an informal and selectively applied system.
 

Trump's Iran war speech paints a grim picture for oil markets with more than 600 million barrels at risk​

PUBLISHED THU, APR 2 2026 1:57 PM EDTUPDATED THU, APR 2 2026 3:59 PM EDT

Spencer Kimball@SPENCEKIMBALL
Pippa Stevens@PIPPASTEVENS13
WATCH LIVE

KEY POINTS
  • The oil market was hoping that President Donald Trump would present a clear exit strategy in the U.S. war against Iran.
  • Instead, Trump vowed to continue the war for weeks and hit Iran "extremely hard" during his national address Wednesday night.
  • The oil market is facing the loss of more than 600 million barrels of oil and refined products. Fuel shortages are expected to ripple around the world.
In this article

108286800-17751495311775149529-44985855321-1080pnbcnews.jpg

President Donald Trump has doubled down on the U.S. war against Iran, spiking oil prices Thursday as traders prepare for a longer conflict that will exacerbate the already deep disruption to global energy supplies.

The oil market had hoped Trump would present a clear exit strategy during his national addressWednesday night. Instead, the president said the war will continue for weeks and vowed to hit the Islamic Republic "extremely hard."
 

Cracks widen in US petro-dollar regime- How Iran’s Hormuz leverage is reshaping global oil trade?​

Kushal Deb

Edited By Kushal Deb
Published: Apr 02, 2026, 17:42 IST | Updated: Apr 02, 2026, 17:56 IST

Cracks widen in US petro-dollar regime- How Iran’s Hormuz leverage is reshaping global oil trade?

Representational Image​

Story highlights

Iran’s control over the Strait of Hormuz and yuan-based oil payments signal pressure on the petrodollar system. Here’s what it means.​

Iran has pulled off one of the most consequential geopolitical heists of the 21st century, a bifurcation of the oil trade. As of early April 2026, the war in West Asia continues. The US-Israeli coalition launched an attack on Iran with the prospective goal of regime change, but it seems the war has evolved into a crack in the petrodollar regime of the US.

As the war widens, Iran has managed to cope with the US-Israeli attack, even after significant damage to its leadership and has been able to assert strategic control over the Strait of Hormuz. Now Iran has been accepting payment in Chinese Yuan, particularly in relation to oil transit through the Strait of Hormuz. At least two vessels have settled the transit fees in Yuan. Whereas a Chinese maritime services company is acting as an intermediary and handling payment to the Iranian authorities.
 

Yuan Fees for Ships to Pass Hormuz Boost Chinese Payment Stocks​



By Bloomberg News
April 3, 2026 at 12:49 PM GMT+8
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Takeaways by Bloomberg AI​

Shares of Chinese companies that offer cross-border payments rose, after the commerce ministry noted that the yuan is being used to pay tolls for passage through the Strait of Hormuz.

CNPC Capital Co., a financial services unit of China National Petroleum Corp., jumped by as much as the 10% daily limit in Shenzhen. Lakala Payment Co., a leading Chinese third-party payments provider, climbed as much as 7.9%, while financial-technology firm Shenzhen Forms Syntron Information Co. rose 9.4% before paring gains.

 

Dollar doomsayers can relax: Iran’s ‘petroyuan’ gambit won’t topple the greenback​

By Paul Blustein
March 30, 2026, 5:00 PM ET
Add us on
Paul Blustein is a senior associate (non-resident) with the Economics Program and Scholl Chair in International Business at the Center for Strategic and International Studies (CSIS). He is also the author of "King Dollar: The Past and Future of the World's Dominant Currency."
The Iran war’s consequences will doubtless be serious—but not for the dollar.

The Iran war’s consequences will doubtless be serious—but not for the dollar. GETTY IMAGES

Even amid the torrent of disquieting news from the Middle East in recent weeks, an Iranian suggestion that it might start offering safe passage to oil tankers that paid in Chinese yuan, instead of the U.S. dollar, raised eyebrows.


Sourced to an anonymous Iranian official, the threat sparked a spate of warnings that Tehran might use its control of the Strait of Hormuz not to just threaten the world’s access to petroleum, but also upend the dollar-based international monetary system. By striking a blow against the petrodollar, Iran could initiate the unraveling of the dollar’s dominance, itself a linchpin of U.S. power—or so the argument goes. Those citing such ominous scenarios envisioned other possible dangers, including the debilitation of America’s security guarantees to Saudi Arabia and other Gulf oil exporters.

“The conflict could be remembered as a key catalyst for erosion in petrodollar dominance, and the beginnings of the petroyuan,” with potentially “significant downstream effects to…the dollar’s role as the world’s reserve currency,” Deutsche Bank analysts warned in a report last week.
 

Trump's anger over Iran thrusts NATO into fresh crisis​

By Gram Slattery, Andrea Shalal, Andrew Gray and John Irish
April 3, 20261:03 PM GMT+8Updated 3 hours ago



U.S. President Trump holds a bilateral meeting with NATO Secretary General Mark Rutte, at the World Economic Forum in Davos

U.S. President Donald Trump holds a bilateral meeting with NATO Secretary General Mark Rutte at the World Economic Forum (WEF) in Davos, Switzerland, January 21, 2026. REUTERS/Jonathan... Purchase LicensingRights, opens new tab Read more
  • Summary
  • Trump's threats to quit raise doubts about mutual defense pact
  • European officials more pessimistic about alliance's future
  • Trump could refuse to aid allies even without quitting NATO, analysts say
  • US insists NATO cannot be 'one-way street'
WASHINGTON/BRUSSELS/PARIS, April 3 (Reuters) - The NATO alliance has in recent years survived existential challenges - ranging from the war in Ukraine to multiple bouts of pressure and insults from U.S. President Donald Trump, who has questioned its core mission and threatened to seize Greenland.

But it is the U.S.-Israeli war with Iran, thousands of miles from Europe, that has nearly broken the 76-year-old bloc and threatens to leave it in its weakest state since its creation, say analysts and diplomats.
 
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See first look of Jamie Bell as Duke Shelby in “new era” of ‘Peaky Blinders’ set in 1950s​


The show will explore “the race to rebuild Birmingham” after the Second World War
ByMax Pilley
3rd April 2026
Jamie-Bell_Ben_Blackall-696x442.jpg
Jamie Bell as Duke Shelby. CREDIT: Ben Blackall
Jamie Bell will lead a new Peaky Blinders sequel series, to be set 10 years after the recent film spinoff The Immortal Man.

The as-yet-untitled new show comes from series creator and writer Steven Knight and it will see Billy Elliot and Rocketman star Bell playing Duke Shelby, the son of Cillian Murphy’s Tommy.

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According to a press release, the “new era” of the hit BBC and Netflix show will tell the story of “the race to rebuild Birmingham” after the Second World War. “This is a city of unprecedented opportunity and jeopardy,” it teases. “At its blood-soaked heart is Duke Shelby: older, wiser, more ambitious and most certainly more dangerous.”

Duke Shelby was played by Barry Keoghan in The Immortal Man, but Bell will be taking on the role from now on. He will be joined in the new cast by Charlie Heaton (Stranger Things, Industry), Jessica Brown Findlay (Silo, The Flatshare), Lashana Lynch (No Time To Die, The Day Of The Jackal) and Lucy Karczewski (Stereophonic).

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The show has been commissioned for two seasons and it is being filmed in Birmingham’s Digbeth Loc Studios. It will air on BBC iPlayer and BBC One in the UK and on Netflix around the world. No release date has been confirmed.

Knight has said: “I am thrilled that we are announcing a new era of Peaky Blinders, moving the story to post-war Birmingham in the early 50s. We are incredibly fortunate to have Jamie Bell taking the role of Tommy Shelby’s oldest son, Duke, and to have Charlie Heaton also leading the cast. There are more exciting cast announcements to come, and Peaky is on the road again.”

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