Iran will collect crypto payments in the form of transit fees from oil tankers crossing the Strait of Hormuz during the two-week ceasefire with the United States, an industry official has told the FT.
Hamid Hosseini, a spokesperson for the Iranian Oil, Gas and Petrochemical Exporters Union, said cryptocurrency-denominated tolls will be charged for fully loaded ships, as the country seeks to “monitor what enters and leaves the strait to ensure that these two weeks are not used to transfer weapons.”
Hosseini’s comments demonstrate Tehran’s willingness to use cryptocurrency for toll payments, highlighting the increasing real-world use cases of digital assets in high-stakes geopolitical developments.
This is nothing new: Countries at odds with the United States 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 to unlock funds to rebuild infrastructure destroyed by war.
The proposed framework will require oil tankers to report their cargo details to Iranian authorities via email, and the toll would be calculated at $1 per barrel of oil. Authorities will then issue instructions on how to pay fees on digital assets, with officials citing bitcoin as a potential payment method.
Hosseini suggested that empty tankers would transit free of charge, but fully loaded vessels would have to comply with the encrypted 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 indicate that Tehran could direct traffic along the strait’s northern route close to its coast, a move that could raise questions about whether Western and Gulf-linked shipping companies are prepared to navigate risky Iranian waters.
