Will ships pay to pass through the Strait of Hormuz? | Global News Podcast

Throughout the war with the US and Israel, Iran has effectively closed off the Strait of Hormuz — one of the world's most important waterways for oil and gas tankers. The UN’s shipping agency, the International Maritime Organization, has warned that around 20,000 seafarers are stranded in the Gulf in stressful conditions, and facing dwindling supplies. But the Strait is not entirely cut off. Data shows a trickle of vessels are still willing to make the crossing — mostly from countries that have "friendly" relations with Iran, such as China, Russia, India and Pakistan. Some are apparently using an alternative “safe corridor” closer to the coastline in Iranian territorial waters, set by the Iranian authorities, who are now reportedly charging a fee of $1 per barrel to allow vetted ships through. This has been branded “Tehran’s toll booth” by the shipping analysts and there are reports that payments for safe passage are being made in Chinese Yuan or cryptocurrency, to bypass Western sanctions. We ask the BBC's Joe Inwood whether some countries with chronic energy supply issues are now considering paying a "toll" to get the oil and gas industry flowing again. New episodes of the Global News Podcast are published twice a day. You can listen here: https://link.mgln.ai/GNP-YT And you can find more of our Youtube episodes here: https://bbc.in/GlobalNewsPodcast Subscribe to our channel here: https://bbc.in/bbcnews For the latest news download the BBC News app or visit BBC.com/news #BBCNews