Iran will collect cryptocurrency payments for transit fees from oil tankers crossing the Strait of Hormuz during the two-week truce with the United States, an industry official told the FT.
Hamid Hosseini, a spokesperson for the Union of Iranian Oil, Gas and Petrochemical Exporters, said cryptocurrency tolls will be applied to fully loaded ships, as the country seeks to “monitor what enters and leaves the strait in order to ensure that these two weeks are not used for the transfer of weapons.”
Hosseini’s comments signal Tehran’s willingness to use cryptocurrency for toll payments, highlighting concrete and growing use cases for digital assets in high-stakes geopolitical developments.
This is nothing new – nations at odds with the United States or its allies have long used cryptocurrency as a way to circumvent traditional banking channels that leave a paper trail. Russia has used cryptocurrency as part of broader efforts to evade Western sanctions, and in the case of Iran, Tehran is exploring digital payments as it seeks to unlock funds to rebuild infrastructure destroyed by war.
The proposed framework will require tankers to notify cargo details to Iranian authorities by email, and the toll would be calculated at $1 per barrel of oil. Authorities will then outline how to pay fees in digital assets, with officials mentioning bitcoin as a potential payment method.
Hosseini suggested that empty tankers would transit free of charge, but that fully loaded vessels must comply with the cryptocurrency declaration and payment process before being allowed to pass.
“Once the email arrives and Iran has completed its assessment, ships have seconds to pay in Bitcoin, ensuring they cannot be traced or confiscated due to sanctions,” he said.
The comments also indicated that Tehran could direct traffic along the strait’s northern route near its coast, a move that could raise questions about the preparedness of Western and Gulf-linked shipping companies to navigate risky Iranian waters.
