#oil-trade

#oil-trade

Iran is demanding that oil tankers crossing the Strait of Hormuz pay transit tolls in Bitcoin at a rate of $1 for every barrel of oil on board. A fully loaded supertanker carrying 2 million barrels would need to pay roughly $2 million in crypto before it can pass through.

The new Venezuelan president referred to the kidnapping of Nicolas Maduro as a stain that contaminates the relationship between the two countries and asserted that drug trafficking and human rights were an excuse for the U.S. intervention, because the real motive is Venezuelan oil. On Wednesday, the state-owned oil company PDVSA announced the existence of trade negotiations with the United States, just four days after the capture of the Chavista leader and his wife, Cilia Flores.

Trump's leadership style, at once volatile and commanding, could be an obstacle and an opportunity for Beijing.