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Iran demands crypto tolls for Hormuz tankers in ceasefire

Source: ft.com

TL;DR

Iran will require laden oil tankers to pay tolls in cryptocurrency to pass through the Strait of Hormuz during the two-week US-Iran ceasefire.
Toll is $1 per barrel, with tankers emailing cargo details first; empty tankers pass free.[[1]](https://breakingthenews.net/Article/Iran-to-charge-ships-for-Hormuz-transit/66029688)[[2]](https://www.ft.com/content/02aefac4-ea62-48db-9326-c0da373b11b8?syn-25a6b1a6=1)
Move lets Iran monitor shipments for weapons and generate revenue from the strait carrying 20% of global oil flows.[[3]](https://www.moneycontrol.com/news/business/iran-could-earn-at-least-4-million-daily-if-hormuz-transit-fees-similar-to-suez-are-imposed-13883548.html)

The story at a glance

Iran demands cryptocurrency tolls from laden oil tankers transiting the Strait of Hormuz as part of a two-week ceasefire with the US after 39 days of conflict. Hamid Hosseini, spokesperson for Iran's Oil, Gas and Petrochemical Products Exporters' Union, outlined the process to the Financial Times, with authors Najmeh Bozorgmehr in Tehran and Alice Hancock in London. This follows US President Donald Trump's announcement of the truce, mediated by Pakistan, requiring Iran to reopen the strait. The strait had seen sharp drops in traffic, stranding vessels and spiking energy prices.

Key points

Ceasefire announced April 8, 2026, halts US-Israeli strikes in exchange for strait reopening; further talks set for Islamabad.[[4]](https://financialpost.com/commodities/energy/oil-gas/oil-gas-prices-plunge-u-s-iran-agree-ceasefire)
Tankers must email cargo manifests; Iran sets $1 per barrel fee payable in digital currencies like Bitcoin; process delays passage deliberately.[[1]](https://breakingthenews.net/Article/Iran-to-charge-ships-for-Hormuz-transit/66029688)
Empty tankers exempted; all vessels monitored to block weapons smuggling, per Hosseini.
Plan allows Iran and Oman to charge fees, citing a regional official to Associated Press; revenue potentially $4 million+ daily at scale.[[3]](https://www.moneycontrol.com/news/business/iran-could-earn-at-least-4-million-daily-if-hormuz-transit-fees-similar-to-suez-are-imposed-13883548.html)
Pre-conflict, strait handled 20.3 million barrels/day oil and 25% global LNG; traffic fell to 9 vessels/day by early April.[[3]](https://www.moneycontrol.com/news/business/iran-could-earn-at-least-4-million-daily-if-hormuz-transit-fees-similar-to-suez-are-imposed-13883548.html)

Details and context

The strait, a natural waterway between Iran and Oman, carries one-fifth of world oil despite no prior formal tolls like the Suez Canal. Iran has reportedly charged fees informally during the blockade, often in yuan or crypto, starting at $1/barrel or up to $2 million per VLCC tanker. The ceasefire eases a buildup of 25+ tankers and 800 vessels trapped inside, with US aid promised for clearance.[[4]](https://financialpost.com/commodities/energy/oil-gas/oil-gas-prices-plunge-u-s-iran-agree-ceasefire)

Conflict erupted late February with US-Israeli strikes; Iran blocked most traffic, halving volumes and doubling war-risk insurance. Oil prices plunged post-ceasefire (Brent to $95/barrel), but recovery lags as fields and refineries restart over weeks.

Key quotes

"Everything can pass through, but the procedure will take time for each vessel, and Iran is not in a rush," Hamid Hosseini told the Financial Times.[[1]](https://breakingthenews.net/Article/Iran-to-charge-ships-for-Hormuz-transit/66029688)
"Iran needs to monitor what goes in and out," Hamid Hosseini added.[[1]](https://breakingthenews.net/Article/Iran-to-charge-ships-for-Hormuz-transit/66029688)

Why it matters

Iran gains leverage over global energy flows through a chokepoint it partially controls, potentially formalising fees beyond the ceasefire and funding reconstruction. Shippers face higher costs and delays, passing $1-2 million per large tanker to fuel prices, while traders watch stranded 10-13 million barrels/day release. Negotiations in Islamabad could extend or scrap the tolls, but any truce breach risks re-blockade.