GEOPOLITICS | Iran Demands Ships Pay Bitcoin Toll to Transit Strait of Hormuz

Iran is demanding that shipping companies pay a Bitcoin toll for oil tankers passing through the Strait of Hormuz, as it moves to maintain control over the critical waterway during the current two-week ceasefire.

Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that authorities will assess each tanker to confirm that Bitcoin payments have been made and to ensure vessels are not transporting weapons.

The BTC toll system will work as follows:

• Tankers must email Iranian authorities with their specific cargo details.
• The tariff is set at $1 per barrel of oil. Empty tankers are allowed to pass for free.
• Upon assessment, vessels are given only a few seconds to pay the toll in Bitcoin. The Iranian spokesperson claimed this is so the funds can’t be ‘traced or confiscated.’
• Any vessel attempting unauthorized transit ‘will be destroyed.’

Under the proposed system, tolls are expected to scale with cargo size. The largest crude oil tankers, which can carry roughly 3 million barrels, could be required to pay around $3 million in Bitcoin per transit.

Bitcoin has been selected as the preferred payment method because it bypasses traditional financial infrastructure, is not tied to any sovereign entity, and is less exposed to international sanctions.

The toll mechanism forms part of a broader framework introduced by Iran to tightly regulate movement through the Strait of Hormuz, a vital global oil chokepoint, amid ongoing geopolitical tensions and restrictions on maritime traffic.

Other rules include:

• Ships are required to submit detailed cargo and vessel information in advance.
• Ships will undergo background checks.
• Ships must follow designated routes closer to Iran’s coastline.
• Final decisions on passage are overseen by Iran’s Supreme National Security Council, with approval not guaranteed and delays expected.

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