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International Business Times UK
International Business Times UK
World
Niloy Chakrabarti

What Is Iran's 'Hormuz Safe'? The Bitcoin Insurance System for Ships Emerging Amid Gulf Tensions

Iran Insurance Bitcoin Gulf United States Donald Trump Oil Strait CENTCOM Fars
Iran has also established the Persian Gulf Strait Authority to provide real-time updates and coordinate safe transit with Oman. (Credit: Official U.S. Navy Page/WikiMedia Commons)

Surging oil prices pared back after US President Donald Trump called off a strike on Iran planned for Tuesday following an appeal by Gulf allies.

Trump said in a Truth Social post that Saudi Arabia, Qatar, and UAE asked 'to hold off on our planned Military attack of the Islamic Republic of Iran, which was scheduled for tomorrow, in that serious negotiations are now taking place.'

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