Trump's war created a private oil lane for China and other countries willing to play ball with Iran
Fortune • • world
Key Points:
- Iran has established a de facto "safe" shipping corridor through its territorial waters near Larak Island, where the Islamic Revolutionary Guard Corps (IRGC) visually confirms and approves vessels on a case-by-case basis, with countries like India, Pakistan, Iraq, Malaysia, and China negotiating transit plans directly with Tehran.
- Passage through this corridor requires ships to provide extensive ownership and cargo details to the IRGC in advance, sometimes involving substantial payments, as seen with one tanker paying about $2 million, enabling Iran to maintain oil exports to key customers like China despite U.S. and Israeli military pressure.
- The corridor serves as a nascent ship registration system, with at least nine ships, including India-flagged tankers, having used the route
