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Iran demands crypto tolls for Hormuz oil tankers

Source: ft.com

TL;DR

Iran will require oil tankers to pay cryptocurrency tolls to pass through the Strait of Hormuz during a two-week ceasefire with the US.
Toll is about $1 per barrel for laden vessels, with cargo details emailed first and payment due in seconds via bitcoin or similar.
Plan lets Iran monitor ships for weapons while evading sanctions through crypto, raising costs for global oil flows.

The story at a glance

Iran's oil exporters' union says shipping companies must pay tolls in cryptocurrency for laden oil tankers transiting the Strait of Hormuz. The requirement comes from Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union. It follows a fragile two-week ceasefire with the US after recent conflict. The strait carries about a fifth of the world's oil.

Key points

Tankers must email Iranian authorities with cargo details for assessment before transit.
Authorities calculate toll at roughly $1 per barrel of oil loaded, payable only in digital currencies like bitcoin.
Ships get seconds to complete payment after approval to avoid tracing or seizure under sanctions.
Empty vessels are exempt from tolls but all ships face monitoring to block weapons smuggling.
Process will delay passages as Iran inspects each vessel during the ceasefire period.
Union stresses all ships can pass if they follow procedures.

Details and context

The Strait of Hormuz, between Iran and Oman, handles around 20 million barrels of oil daily in normal times - vital for exports from Saudi Arabia, UAE, Kuwait and Iraq. Conflict closed it recently, spiking oil prices before the ceasefire eased them. Iran now formalises controls started earlier, with prior reports of ad-hoc fees up to $2 million per supertanker in yuan or stablecoins.[[1]](https://www.bloomberg.com/news/articles/2026-04-01/strait-of-hormuz-ships-paying-iran-yuan-and-crypto-tolls-for-safe-passage)

Crypto payments help Iran bypass US sanctions on its banking system. Ships risk military action without clearance, so companies proceed cautiously even post-ceasefire.

Key quotes

“Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions.” — Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union.[[2]](https://www.indiatoday.in/world/story/tehran-sets-1-per-barrel-crypto-toll-on-tankers-transiting-via-strait-of-hormuz-2893417-2026-04-08)
“All ships will be allowed to pass, but each vessel will have to follow the procedures, which will take time.” — Hamid Hosseini.[[3]](https://www.firstpost.com/world/iran-to-levy-1-per-barrel-cryptocurrency-toll-on-strait-of-hormuz-tankers-report-13998123.html)

Why it matters

Any disruption here threatens global oil supply and prices, affecting economies worldwide. Shipping firms face higher costs and delays, passing them to oil buyers including refiners and consumers. Watch if tolls stick beyond two weeks or if US challenges them, as ceasefire terms remain unclear.