The Iranian government is preparing to demand a $1 “transit fee” per barrel from oil tankers passing through the Strait of Hormuz. Tehran is insisting that these payments be made in Bitcoin in order to avoid U.S. sanctions and prevent the tracing of the money.

With the two-week ceasefire process announced between the U.S. and Iran continuing, the Tehran administration aims to turn its de facto control over the Strait of Hormuz— the world’s most strategic waterway—into an economic gain.
“We’re in no rush; procedures will take time”
Hamid Hüseyni, spokesperson for the Iranian Oil, Gas and Petrochemical Products Exporters Association, said in a statement to the British Financial Times that each oil tanker passing through the strait will be assessed individually and a taxation system will be applied.
Hüseyni said, “Iran must closely monitor traffic in the Strait of Hormuz to ensure that this two-week ceasefire is not used for arms shipments. All kinds of commercial goods will be allowed to pass, but the procedures that apply to each ship will take time; Iran has no rush on this matter.”
$1 tax per barrel
Under the proposed system, the steps to be followed by tankers wishing to use the Strait of Hormuz are listed as follows:
“Shipping companies will submit detailed information about the cargo they carry to Iranian officials via email.
After the Iranian authorities review the cargo, they will grant passage approval.
Ships that receive approval will pay the fee of $1 per barrel, in Bitcoin, for the oil they carry.”
Empty tankers and ships carrying non-oil cargo will be able to pass through the strait for free.
Why Bitcoin?
Hamid Hüseyni provided a clear rationale for why the payments are requested in cryptocurrency:
“Making payments in Bitcoin makes it impossible to have these funds tracked or seized in the international banking system due to sanctions. This method provides a safe haven for both sides.”
Decision-making authority: Supreme National Security Council
It was emphasized that the final decisions regarding the passage conditions in the Strait of Hormuz are made by Iran’s Supreme National Security Council.
On the other hand, Tehran had said that on Wednesday night, in response to Israel’s air strikes targeting Lebanon, it temporarily halted the passage of oil tankers.
#GateSquareAprilPostingChallenge