Iran Demands $1 Per Barrel Toll On Tankers Crossing Hormuz, Sets Crypto As Payment Mode

Last Updated:April 08, 2026, 19:14 IST

Iranian authorities would also conduct individual inspections of vessels to monitor cargo movements during the ceasefire and ensure the strait is not used for transporting weapons

Iran plans to levy a transit toll on all oil tankers passing through the Strait of Hormuz during a two-week ceasefire, with payments to be made in cryptocurrency, according to reports.

Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that Tehran intends to charge $1 per barrel on every tanker transiting the strategic waterway.

He said Iranian authorities would also conduct individual inspections of vessels to monitor cargo movements during the ceasefire and ensure the strait is not used for transporting weapons.

Under the proposed system, tankers seeking passage will be required to email Iranian authorities with full details of their cargo.

Once inspections are completed, ships will be informed of the payable toll, calculated in cryptocurrency.

Hosseini said vessels would have only a few seconds to complete payment in Bitcoin, a move aimed at preventing the funds from being tracked or frozen under international sanctions.

“All ships will be allowed to pass, but each vessel will have to follow the procedures, which will take time," Hosseini was quoted as saying.

Final conditions governing passage through the strait will be determined by Iran’s Supreme National Security Council.

The report noted that Iran may require tankers to use the northern shipping lane closer to its coastline, potentially complicating transit for vessels linked to Western nations or Gulf states.

Iran’s latest move follows its earlier 10-point ceasefire proposal, which included a provision allowing both Tehran and Muscat to impose transit fees on ships using the Strait of Hormuz.

That demand was firmly rejected by Oman, which said no tolls can be imposed on vessels crossing the strait.

Oman’s Transport Minister has since said the Sultanate has signed agreements guaranteeing free passage for ships and reaffirmed its commitment to maintaining safe and unrestricted navigation through the chokepoint.

The 34-kilometre-wide stretch of water between Iran and Oman is widely recognised as an international waterway, with neither country having imposed transit charges in the past.

The strait serves as the narrow gateway to the Persian Gulf and handles roughly one-fifth of global oil trade, making any disruption closely watched by energy markets worldwide.

Iran has said the revenue collected from the proposed tolls would be used for post-war reconstruction, citing extensive damage to its defence, administrative and civilian infrastructure during the conflict.

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