Iran plans to charge oil tankers passing through the Strait of Hormuz using cryptocurrency during a two-week temporary ceasefire.
According to Financial Times (08th April 2026), Iran will require all oil-carrying vessels to pay approximately $1 per barrel in crypto. Non-oil vessels can pass for free but must still undergo strict inspections and submit cargo information in advance. The move aims to maintain strategic control over this critical waterway, prevent arms smuggling, and avoid international sanctions by using untraceable crypto payments.
Hundreds of tankers are currently stuck in the Persian Gulf – described as a “giant parking lot at sea” – with around 175 million barrels of oil and refined products waiting on nearly 200 vessels. The new “safe passage procedure” coordinated with Iranian armed forces has made shipping companies extremely cautious.
US President Donald Trump has demanded Iran reopen the strait fully and safely, while Saudi Arabia, Qatar, and the UAE strongly oppose Iran regaining control over global oil flows.
This is the first major example of a nation-state using crypto for large-scale geopolitical energy payments. A historic moment for real-world crypto adoption under sanctions pressure!
