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Crypto-Backed Tolls
Iran demanded crypto-backed transit tolls during the two-week ceasefire with the United States.
“Iran plans to collect cryptocurrency and other digital payments as transit fees from fully loaded oil tankers”
The toll will be about $1 per barrel for fully loaded tankers.
Vessels must email cargo details and then pay via cryptocurrency such as bitcoin.
The use of crypto ensures fees can’t be traced or confiscated due to sanctions.
Enforcement and Route Changes
Iran warned that any tanker passing without permission will be targeted.
Iran could direct traffic along the northern route closer to its coastline.
A fully loaded supertanker could face charges approaching $2 million.
Shipping companies largely remain in a holding pattern.
Geopolitical Implications
The crypto tolls highlight how Iran is leveraging digital assets to maintain leverage.
“Payments in cryptocurrency or Chinese yuan point to a familiar pattern among nations facing US sanctions”
Other regional exporters are likely to balk at Iran controlling the Strait.
The Channel remains a focal point of broader geopolitical contestation.
Trump expressed hope the tolling could lead to longer-term commerce resumption.