Iran Plans Bitcoin Toll for Laden Oil Tankers Crossing Strait of Hormuz

Highlights:

• Iran is considering Bitcoin toll payments for oil tankers crossing the Strait of Hormuz.
• The proposal would help Iran monitor shipping traffic during the fragile two-week ceasefire.
• The plan has raised concerns over sanctions, shipping safety, and control of global oil flows.

Iran is considering a new way to charge oil tankers passing through the Strait of Hormuz by asking them to pay in cryptocurrency. According to a Financial Times report published on Wednesday, the proposal comes during a fragile ceasefire and appears aimed at helping Iran keep control over one of the world’s most important shipping routes.

Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, said the plan would require tankers carrying oil to pay $1 per barrel to use the strait. Empty vessels would not be charged. 

Shipping companies would first need to email Iranian authorities with details of their cargo. After reviewing the request, Iran would tell them how much they owe, with payment to be made in Bitcoin.

Hosseini said Bitcoin is attractive because it allows payments to move quickly and can help ships avoid problems linked to sanctions, including the risk of funds being tracked or seized. For Iran, which has faced years of economic restrictions, that makes crypto a useful option.

"Once the email arrives and Iran completes its assessment, vessels are given afew seconds to pay in bitcoin, ensuring they can't be traced or confiscated dueto sanctions," Hosseini added. pic.twitter.com/m5m2xxI9CH

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Iran Tightens Ship Checks During Ceasefire

Iran also wants to inspect traffic through the strait during the two-week ceasefire to make sure no weapons are being moved. Hosseini said the country needs to watch closely what enters and leaves the route during this period. He added that approvals will not be rushed.

Under the proposed process, ships would be directed to take a northern route near Iran’s coastline. Tankers have also reportedly received a radio warning in English saying that any vessel trying to pass without permission “will be destroyed.” That warning shows how tense the situation remains for shipping companies considering whether to move through the area.

President Donald J. Trump makes a statement on Iran: pic.twitter.com/9mqTayL0Q3

— The White House (@WhiteHouse) April 7, 2026

Iran’s Bitcoin Toll Proposal Triggers Global Shipping and Regional Concerns

The proposal has already raised concerns among shipowners and governments. Western shipping firms are waiting for clearer guidance before deciding whether to resume transit. Maersk, one of the world’s largest shipping lines, said the ceasefire may open some opportunities, but conditions are still too uncertain for normal operations.

Countries in the Gulf, including Saudi Arabia, Qatar, and the United Arab Emirates, are firmly opposed to any deal that allows Iran to have more control over the strait. Analysts warn that if Tehran gains more power over Hormuz, it could also shift the balance of power within OPEC+, the larger oil-producing alliance. 

Saudi commentator Ali Shihabi called any such control a red line and emphasized that free and open access to global markets remains the top priority. 

The Strait of Hormuz is among the key energy bottlenecks in the world that transports up to 20% of the total oil production in the world. Prior to the ongoing crisis, the number of ships passing through this strait was roughly estimated at 135 per day. With the new proposal, the maximum number of ships that can pass per day will be between 10 to 15.

As of now, Iran’s plan on using cryptocurrency as a toll fee remains a proposal. But it is an indication of how cryptocurrency and other similar digital currencies are gradually gaining traction in international trade and politics.

Crypto Market Gains Strength as Ceasefire Eases Investor Fears

Crypto prices rose on Wednesday after a ceasefire between the United States and Iran eased market fears. As tensions cooled, investors returned to risk assets, helping digital currencies move higher.

Bitcoin traded near $72,000, while Ethereum moved above $2,230. The overall crypto market cap reached $2.44 trillion, up 4% in the past 24 hours.