rewrite this title and make it good for SEO Iran Mandates Cryptocurrency Tolls for Strait of Hormuz Transit – Cryptoflies News

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Iran is now requiring maritime operators to pay transit fees in cryptocurrency to navigate the Strait of Hormuz. The new protocol applies during the current two-week ceasefire.

Case-by-case toll assessments

The Financial Times reports that shipowners must provide detailed cargo manifests via email to Iranian authorities. 

Officials then evaluate the ship’s contents and dictate a specific fee for safe passage. Hamid Hosseini, a representative for Iran’s Oil, Gas, and Petrochemical Products Exporters’ Union, stated that the monitoring is necessary to prevent weapons smuggling.

Vessels carrying oil are reportedly being charged a rate of $1 per barrel. For a fully loaded supertanker, this can total up to $2 million per transit. Conversely, ships traveling without cargo are allowed to cross the waterway for free.

Digital assets and economic strategy

Payment for these transits must be settled in digital assets. Officials have identified Bitcoin as a potentially preferred payment method. This shift to cryptocurrency allows Iran to process payments rapidly while bypassing traditional banking systems and international sanctions.

The fee structure follows the official approval of the “Strait of Hormuz Management Plan” on March 31, 2026. This legislation formalizes Iran’s authority over the maritime chokepoint.

Impact on global trade

Industry estimates suggest the toll system could generate approximately $20 million per day from oil tankers. At full capacity, monthly revenue could reach $800 million if liquefied natural gas vessels are included.

While the ceasefire has temporarily paused direct conflict, the new toll requirements have created a backlog of vessels in the Persian Gulf as companies clarify the legal and financial terms of the Iranian mandate.