'Pay $1 Per Barrel In Crypto’: Is An IRGC-Led Toll System Emerging In Hormuz?

Last Updated:April 14, 2026, 20:33 IST

A new IRGC-led system requires vessels to seek approval, undergo cargo verification and pay $1 per barrel fees as transit through Hormuz becomes tightly regulated.

A more defined transit framework is emerging in the Strait of Hormuz, signalling tighter Iranian control over vessel movement through the critical global energy corridor.

Analysis shared by Kpler shows the Islamic Revolutionary Guard Corps (IRGC) is functioning as the administrator, with Larak Island serving as the administrative and enforcement hub. New protocols are being put in place to regulate how ships transit the strait.

‘The Hormuz Toll System’

An infographic released by the data and analytics firm, which provides real-time intelligence on energy, power and maritime shipping, indicates that the IRGC has established its control centre on Larak Island.

Iran effectively restricted traffic through the strait after the war began with US and Israeli strikes on February 28. The United States, meanwhile, announced its own blockade on Sunday after talks with Tehran failed.

Kpler data shows vessels are now required to submit detailed information, including Q88 documentation, before receiving clearance. “No approval, no passage" appears to be the guiding principle under the evolving system.

‘Pay $1 Per Barrel In Crypto’

Kpler’s assessment indicates that liquid cargoes — including crude and refined products — are subject to a fee of $1 per barrel. The payment is reportedly made on exit from the Gulf and, in some cases, in cryptocurrency.

The transit process requires vessels to approach Larak Island and establish contact on VHF Channel 16, followed by pilot boarding and cargo verification before onward movement.

Temporary infrastructure has been set up to support these operations, suggesting a structured — though still evolving — framework rather than ad hoc enforcement.

The report also flagged that traffic through the strait is being administratively controlled, warning of potential delays. It added that reports of a “15 vessels per day" cap are inaccurate, though throughput is being regulated.

Current Status Of Transit Via Hormuz

At least two ships departing Iranian ports crossed the Strait of Hormuz on Monday despite the US military blockade.

They were among at least four Iran-linked vessels that used the route after Washington’s blockade came into effect at 1400 GMT, according to Kpler.

The Liberia-flagged bulk carrier Christianna crossed after unloading 74,000 tonnes of corn at Iran’s Bandar Imam Khomeini port, passing Larak Island around 1600 GMT.

A second vessel, the Comoros-flagged tanker Elpis, was near Larak Island around 1100 GMT and cleared the strait by 1600 GMT. It was carrying 31,000 tonnes of methanol after departing Iran’s Bushehr port on March 31.

US Central Command said the blockade would target “vessels of all nations entering or departing Iranian ports and coastal areas".

A Chinese tanker, Rich Starry, also crossed the strait overnight from Monday to Tuesday via an Iranian-approved route south of Larak Island.

Kpler data shows the vessel was carrying 31,500 tonnes of methanol and was bound for Sohar in Oman.

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