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.
Major indices, including the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, all recorded gains, with the Nasdaq delivering its strongest weekly performance since November.
The E-3 Sentry, with its distinctive rotating radar dome, is a flying command center that allows American forces to see and coordinate the battlefield. In recent weeks, Iran destroyed one on a runway in Saudi Arabia and reportedly damaged another.
Under the current ceasefire, fewer than 15 ships per day are permitted to transit the Strait of Hormuz. This movement is strictly contingent upon Iran's approval and the enforcement of a specific protocol.
After 40 days of fighting, the United States and Iran agreed to a two-week ceasefire, with negotiations expected to begin in Islamabad. One key point in Iran's proposal is allowing shipping to resume through the Strait of Hormuz, which has been closed since the war began, causing global oil prices to soar.
Special forces assisted by French helicopters boarded the ship in a clandestine operation in the North Sea on Saturday night, Belgium's defence minister, Theo Francken, said on Sunday. Prosecutors said the tanker, identified as the Ethera, was falsely flying the flag of Guinea and was believed to be on its way back to Russia when it was seized in Belgium's exclusive economic zone.
The European Union is considering imposing an outright maritime ban on services needed to ship Russian oil, such as insurance and transportation, as part of a new sanctions package marking four years of Russia's war.
