Iran Will Accept Bitcoin for Strait of Hormuz Tanker Tolls at $1 per Barrel During Two-Week Ceasefire

Iran will charge oil tankers passing the Strait of Hormuz $1 per barrel payable in Bitcoin during a two-week ceasefire, per Financial Times reporting, formalizing a sanctions-bypass model.

Iran Will Accept Bitcoin for Strait of Hormuz Tanker Tolls at $1 per Barrel During Two-Week Ceasefire Iran will charge oil tankers passing the Strait of Hormuz $1 per barrel payable in Bitcoin during a two-week ceasefire, per Financial Times reporting, formalizing a sanctions-bypass model. Aaron Rafferty April 12, 2026 Key Takeaways: Hamid Hosseini , spokesperson for Iran's Oil, Gas and Petrochemical Products Exporters' Union, told the Financial Times on April 8 that oil tankers passing the Strait of Hormuz must pay $1 per barrel in cryptocurrency, with Bitcoin specifically cited and supertankers facing tolls approaching $2 million. Iran's National Security Committee approved a bill in early April codifying yuan and stablecoin tolls into law, framing the fees as compensation for providing security through the waterway that carries roughly 20% of global oil and liquefied natural gas. Bitcoin jumped 5% to above $71,700 in the minutes after the FT report, with Solana and Ethereum rising 7% and 8% before paring gains. Financial Times reported on April 8 that Iran will collect cryptocurrency payments as transit fees from fully loaded oil tankers during the two-week ceasefire President Trump announced April 7. Hamid Hosseini of Iran's Oil, Gas and Petrochemical Products Exporters' Union, an industry group that works closely with the government, said tanker operators must email Iranian authorities describing cargo, then receive a toll assessment to be paid in digital assets. Empty tankers pass free. "Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can't be traced or confiscated due to sanctions," Hosseini told the FT. The formal system builds on informal IRGC operations Bloomberg