Iran plans crypto toll on Hormuz oil transit, warns ‘no permission, no passage’

Iran is moving to tighten its hold over one of the world’s most critical oil chokepoints, signaling a new layer of control over maritime traffic through the Strait of Hormuz. Amid a fragile ceasefire with the United States, Tehran is considering a $1-per-barrel toll on oil tankers—payable in cryptocurrency such as Bitcoin—according to a report by the Financial Times.

The proposed system underscores Iran’s intent to retain leverage over global energy flows even as direct hostilities have paused. Markets remain on edge, with uncertainty over how long the ceasefire will hold and under what terms shipping can safely resume.

Citing Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, the report said Tehran plans to monitor and regulate all vessels passing through the strait. Each tanker would be required to submit cargo details in advance, with authorities assessing shipments before granting clearance.

“Iran needs to monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons,” Hosseini said, adding that while passage would be allowed, approvals may not be immediate as Iran is “not in a rush”.

Under the proposal, vessels would email cargo information, after which a toll—fixed at $1 per barrel—would be calculated. Payments would need to be completed within a short window, raising operational and compliance challenges for global shipping firms.

‘No permission, no passage’ warning

Tensions have been further inflamed by stark warnings issued to ships operating in the Gulf. Tankers have reportedly received radio messages cautioning that any vessel attempting to pass without prior approval could face military action.

“If any vessels try to transit without permission, (they) will be destroyed,” one such broadcast warned, according to the report.

Iran is also expected to steer vessels closer to its coastline, a move that could heighten risks for ships linked to Western and Gulf nations. With rules unclear and enforcement tightening, many shipping companies are opting to delay voyages until greater clarity emerges.

The future of the strait has become a central issue in negotiations to extend the ceasefire. Donald Trump has said any truce would hinge on Iran ensuring the “complete, immediate, and safe opening” of the passage. Meanwhile, Iran’s Supreme National Security Council has proposed a framework for transit under its direct supervision.

Global markets on edge

The uncertainty has effectively stalled movement across the Gulf, leaving hundreds of vessels stranded. Around 400 ships are currently waiting in the region, with industry executives likening the congestion to a “car park”. Millions of barrels of oil remain stuck onboard as companies await clarity on transit protocols.

Shipping giant Maersk said it is assessing the evolving situation but has yet to resume normal operations.

The developments follow earlier discussions involving Oman and Iran on imposing transit fees during a two-week ceasefire. However, Oman has firmly rejected the idea, stating that existing agreements do not permit tolls on vessels using the key international waterway.

With geopolitical tensions unresolved and operational risks rising, the Strait of Hormuz remains a flashpoint—its status critical not just for regional stability, but for the flow of global energy supplies.