Iran Plans to Levy Cryptocurrency Transit Fees on Oil Tankers During Ceasefire Period

Odaily News: According to a spokesperson for the Iranian Union of Exporters of Oil, Gas, and Petrochemical Products, Iran plans to impose a transit fee of $1 per barrel on all oil tankers passing through the Strait of Hormuz during a two-week ceasefire period. Tankers are required to use the northern route close to the Iranian coast, submit cargo declarations via email to the Iranian side, and complete payments within seconds using digital currencies such as Bitcoin. Iran stated that this measure is intended to monitor for potential weapons shipments, and unauthorized vessels will face the threat of military strikes. Currently, only a few tankers associated with Iran have attempted passage, with approximately 300 to 400 ships waiting to depart within the Gulf. Industry sources indicate it will be difficult to clear the backlog within two weeks.