Iran will collect crypto payments as transit fees from oil tankers passing through the Strait of Hormuz during the two-week ceasefire with the US, an industry official told the FT.
Hamid Hosseini, spokesman for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, said crypto-denominated tolls will be charged to fully loaded vessels as the nation seeks to “monitor what goes in and out of the strait to ensure that these two weeks are not used to transfer weapons.”
Hosseini’s comments signal Tehran’s willingness to use cryptocurrency for tax payments, highlighting the expanding real-world use cases of digital assets in high-stakes geopolitical developments.
This is not new – nations at odds with the US or its allies have long turned to crypto as a way to bypass traditional banking channels that leave a paper trail. Indeed, Russia has used cryptocurrency as part of broader efforts to circumvent Western sanctions, and in the case of Iran, Tehran is exploring digital payments as it looks to unlock funds for rebuilding its war-torn infrastructure.
The proposed framework would require tankers to communicate cargo details to Iranian authorities via email, and the toll would reportedly be calculated at $1 per toll. barrel of oil. Authorities will then instruct on how to settle the fee in digital assets, with officials citing bitcoin as a potential payment method.
Hosseini suggested that empty tankers would sail without a fee, but fully loaded ships must comply with the reporting and crypto payment process before being approved for passage.
“Once the email arrives and Iran has completed its assessment, ships are given a few seconds to pay in Bitcoin, ensuring they cannot be tracked or confiscated due to sanctions,” he said.
The comments also indicated that Tehran may direct traffic along the northern route of the strait close to its coastline, a move that could raise questions about whether Western and Gulf-linked shipping lines are prepared to navigate the risky Iranian waters.
