Iran is set to levy a toll of $1 per barrel for ships transiting via the Strait of Hormuz, and the fee will be collected in the form of cryptocurrency, Financial Times reported, citing a senior official.
Hamid Hosseini, a spokesperson for Iran's Oil, Gas and Petrochemical Products Exporters' Union, told the publication that tankers will be required to email Iranian authorities about their cargo. Subsequently, they will be informed about the amount required to be paid in digital currencies.
“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 reportedly said, adding that the tariff is $1 per barrel of oil. Free tankers, however, will be allowed to move freely, he clarified.
Notably, Iran's navy has warned vessels anchored near the Strait of Hormuz that they must obtain prior clearance before transiting the critical waterway, even as a temporary ceasefire with the United States raises hopes of de-escalation, The Wall Street Journal reported.
According to the report, a radio message broadcast to ships on Wednesday stated: “You must receive permission from Iranian Sepah navy for passing through the strait. If any vessel tries to transit without permission, will be destroyed.”
The recording was shared with the publication by a crew member.
The Sepah navy refers to a specialised unit under the Islamic Revolutionary Guard Corps, which oversees strategic operations in the region.
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The warning comes hours after US President Donald Trump announced a two-week suspension of attacks on Iran, contingent upon the “complete, immediate, and safe” reopening of the Strait of Hormuz, a vital corridor for global oil shipments.
Despite the ceasefire understanding, Iran appears to be maintaining a firm grip over the waterway. The Wall Street Journal reported that Iranian fighter jets remain deployed over the Persian Gulf, while most vessels in the vicinity have remained stationary amid heightened uncertainty.
The Strait of Hormuz, through which a significant portion of the world's oil supply flows, has been at the centre of escalating tensions between Washington and Tehran.
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Reuters also reported that Iran may allow a partial and tightly controlled reopening of the Strait of Hormuz later this week, ahead of a scheduled meeting between US and Iranian officials in Pakistan.
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