Iran to Charge Oil Tankers Crypto Fees to Use Strait of Hormuz – $1 Per Barrel in BTC, USDT.
After weeks of tension, Iran is turning the world’s most important oil chokepoint into a crypto paywall.
According to reports from FT and CoinDesk, Tehran now plans to charge fully loaded oil tankers ~$1 per barrel in cryptocurrency to pass through the Strait of Hormuz during the current two-week cease-fire with the U.S.
How the crypto toll works:
1. Apply first: Tankers email cargo, crew, and ownership details to Iranian authorities.
2. Get ranked: IRGC’s Hormozgan Command scores ships 1–5 based on how “friendly” their country is. U.S. and Israel-linked vessels = blocked.
3. Pay up: Approved tankers pay ~$1/barrel. For a Very Large Crude Carrier with 2M barrels, that’s ~$2 million per trip.
4. Crypto only: Payment accepted in Chinese yuan or dollar-pegged stablecoins like USDT and USDC to dodge dollar sanctions.
5. Escort service: After payment clears, IRGC issues a secret permit code and escorts the ship along a route closer to Iran’s coast.
ALSO READ: MyBucks Airdrop 2026: Earn Free USDT with 1-Click Wallet Gifting
Why this is huge:
The Strait of Hormuz normally carries 20% of global oil and LNG trade. After U.S.–Israel strikes in Feb 2026, IRGC shut it down and tanker traffic dropped 97%. Now Iran’s reopening it — but only for “non-hostile” nations like China, India, and select Gulf states.
Analysts call it a “direct challenge to the petrodollar.” Louis LaValle of Frontier Investments said it’s the first time a major oil country “basically say we are going to take the equivalent of the dollar in bitcoin BTCUSD or crypto” for transit.
J.P. Morgan’s David Kelly added: Iran “gets a piece of the action” and “essentially have a blackmail card up their sleeve”.
Market reaction:
Bitcoin dipped from $70K to $68K as Trump set a Tuesday deadline for Iran to reopen the strait. Oil jumped 1.7% to $114.22 per barrel.
Bottom line:
Iran is weaponizing crypto to bypass sanctions and monetize geography. Oil still trades in dollars, but shipping tolls may start settling in BTC and USDT. If this sticks, expect other sanctioned nations to copy the playbook.