Iran eyes crypto fees to tighten grip on Strait of Hormuz - report
Irans spokesperson for oil and petrochemical exporters union, said the goal is to oversee maritime traffic and prevent the transfer of weapons during the ceasefire period
Iran is weighing a plan to impose transit fees on vessels passing through the Strait of Hormuz, potentially payable in cryptocurrency, as it seeks to maintain tight control over the critical shipping route during the ongoing two-week ceasefire, according to a report by the Financial Times.
Citing Iranian officials, the report said Tehran is considering a system that would charge tankers for crossing the strait while subjecting ships to closer monitoring.
Hamid Hosseini, spokesperson for Iran’s oil and petrochemical exporters union, said the goal is to oversee maritime traffic and prevent the transfer of weapons during the ceasefire period.
The proposal also includes expanded inspections of vessels, a move that could slow traffic through one of the world’s most important energy corridors- part of a broader strategy to assert control over the route rather than facilitate rapid transit.
The reported use of cryptocurrency payments is seen as an attempt to bypass international sanctions on Iran’s financial system while securing transactions outside traditional banking channels.