Iranian authorities introduced a mandatory fee for oil tankers passing through the Strait of Hormuz during a two-week truce.
According to Financial Times, the fee will be collected in bitcoin at a rate of $1 per barrel of oil.
A fully loaded supertanker could face a payment approaching $2 million. A representative of Iran’s Oil, Gas and Petrochemical Products Exporters Union, Hamid Hosseini, confirmed that payment must be made in cryptocurrency to avoid the risk of funds being frozen due to sanctions.
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Payment Mechanism and Control
Each vessel must send an email to authorities in advance with cargo specifications. After document verification, Iran issues an invoice in bitcoin (BTC). Captains have only a few seconds to complete the transfer. Empty vessels are exempt from the fee and may pass freely.
Iran justifies the fees as necessary for inspecting vessels for hidden weapons transport during the truce. The country’s Supreme National Security Council determines the passage rules. Tankers are directed to use the northern route near the Iranian coast.
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Reaction and Consequences
President Donald Trump previously stated that a truce could only occur with the complete and safe opening of the strait. In response, Iran published a list of ten points for negotiations. One of the basic conditions is a new safe passage protocol fully coordinated with Iranian armed forces.
Experts note that this payment mechanism creates additional risks for vessels from Western companies and Gulf states. It also highlights bitcoin’s growing role in circumventing international sanctions.
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What’s With BTC’s Price
At the time of publication on April 8, 2026, bitcoin trades at $71,086. It has risen 4.3% over the past 24 hours.
Over the past week and month, the coin has risen 4.4% and 3%, respectively. The coin remains far below its all-time high above $125,000 recorded in October 2025.
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