Iran has imposed a new condition for ships passing through the Strait of Hormuz, in which it has said that only those ships whose oil or other goods have been paid for in Yuan, i.e. Chinese currency, will be able to pass through Hormuz. The move comes amid increasingly tense circumstances between the US and Iran and could have a potentially negative impact on global oil supply, economic stability, supply chains and stock markets. Foreign affairs expert Abhishek Khare gave information about what impact will be seen in the coming days.
