Iran eyes crypto toll for oil tanker transits through Strait of Hormuz, according to FT

Iran plans to collect cryptocurrency and other digital payments as transit fees from fully loaded oil tankers passing through the Strait of Hormuz, said the report.

What to know:

• Iran plans to collect cryptocurrency and other digital payments as transit fees from fully loaded oil tankers passing through the Strait of Hormuz during a two-week cease-fire with the United States, according to an FT report.
• Under the proposed system, tankers must email cargo details to Iranian authorities, who will levy a toll of about $1 per barrel and instruct crews on how to settle the fee in digital assets such as bitcoin.
• The move underscores Tehran’s use of crypto to bypass dollar-based financial channels and sanctions, and could reroute traffic closer to Iran’s coastline, raising risks for Western and Gulf-linked shipping firms.

Iran will collect crypto payments as transit fees from oil tankers passing through the Strait of Hormuz during the two‑week ceasefire with the U.S., an industry official told FT.

Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, said that crypto-denominated tolls will be charged for fully loaded vessels as the nation seeks to "monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons."

Hosseini’s comments signal Tehran’s willingness to use cryptocurrency for toll payments, highlighting the expanding real‑world use cases of digital assets in high-stakes geopolitical developments.

This isn’t new — nations at odds with the U.S. or its allies have long turned to crypto as a way to bypass traditional banking channels that leave a paper trail. Russia has indeed used cryptocurrency as part of broader efforts to evade Western sanctions, and in Iran’s case, Tehran is exploring digital payments as it looks to unlock funds for rebuilding the war-destroyed infrastructure.

The proposed framework will require tankers to notify cargo details to Iranian authorities via email, and the toll will reportedly be calculated at $1 per barrel of oil. Authorities will then instruct on how to settle the fee in digital assets, with officials citing bitcoin as a potential payment method.

Hosseini suggested that empty tankers would transit without charge, but fully laden vessels must comply with the reporting and crypto payment process before being cleared for passage.

“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,” he said.

The comments also indicated Tehran may direct traffic along the northern route of the Strait close to its coastline, a move that could raise questions about whether Western and Gulf‑linked shipping firms are prepared to navigate the risky Iranian waters.

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