Secret Codes and Yuan Fees Get Ships Through Iran’s Hormuz Tollbooth
bloomberg.com • • world
Key Points:
- An oil tanker stuck in the Persian Gulf was offered safe passage through the Strait of Hormuz under Iranian naval escort if it changed its registration to fly the Pakistani flag.
- The offer came from the Pakistani government after Iran agreed to allow 20 Pakistani-flagged vessels to transit the strait amid heightened regional tensions.
- The tanker operator could not accept the proposal due to the requirement to reflag the vessel, highlighting complexities in navigating the strategic waterway.
- Pakistan, having limited flagged ships in the Gulf, reached out to major global commodity traders to find vessels willing to temporarily sail under its flag to utilize the transit agreement.
