Iran will demand shipping companies pay tolls of up to $2 million per tanker in cryptocurrency for oil vessels passing through the Strait of Hormuz during the two-week ceasefire, according to a spokesperson for the country’s oil exporters’ union.
Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that Tehran intends to collect fees from every laden tanker transiting the waterway and to inspect each vessel’s cargo for weapons.
$1 Per Barrel, Payable in Bitcoin
The toll is set at $1 per barrel of oil, which could reach up to $2 million for a fully laden supertanker. Empty tankers can pass freely.
Each ship must email Iranian authorities detailing its cargo, after which it receives a toll amount payable in Bitcoin (BTC).
Hosseini said the crypto payment window lasts only seconds. That design ensures transactions cannot be traced or seized under international sanctions.
“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,” FT reported, citing Hosseini.
Iran’s demand for Bitcoin payments on Strait of Hormuz tanker tolls signals a direct challenge to the petrodollar system.
By forcing vessels to settle in crypto rather than dollars, Tehran bypasses US sanctions while establishing a precedent that could erode dollar dominance over global oil trade.
Military Threat Backs the Toll Demand
The move signals Iran’s determination to retain leverage over the critical chokepoint even as ceasefire negotiations unfold. Hosseini’s comments suggest Tehran will require tankers to use the northerly route near Iran’s coastline.
That raises serious questions about whether Western or Gulf-aligned vessels will risk the passage.
Tankers in the Gulf received a radio broadcast on Wednesday warning that vessels attempting transit without Iranian approval would face military strikes.
“If any vessels try to transit without permission, [they] will be destroyed.”
Washington and Tehran on a Collision Course
The demand puts Iran on a direct collision course with Washington. President Donald Trump stated that the ceasefire is contingent on Iran agreeing to the complete, immediate, and safe reopening of the strait.
Meanwhile, Iran’s Supreme National Security Council has proposed a new protocol for secure passage coordinated with its armed forces.
The council listed 10 negotiation points, including military oversight of all transit activity.
How this standoff resolves will shape not just the ceasefire’s survival, but the future of global oil transit through the world’s most strategically vital waterway.
