According to Hamid Hosseini, spokesperson for Iran's Oil, Gas and Petrochemical Products Exporters' Union, Tehran plans to collect a toll of $1 per barrel of oil from vessels passing through the Strait. Empty ships would reportedly be allowed to pass free of charge. Hosseini said the procedure would involve ships emailing the authorities about their cargo, after which Iran would provide the digital currency payment instructions. He added that payments would be made via bitcoin “to ensure they can’t be traced or confiscated due to sanctions.”
“Iran needs to monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons,” Hosseini told the Financial Times. He emphasized that while ships can technically pass, the process will take time, noting that Iran “is not in a rush.”
The latest move comes amid renewed closures of the Strait of Hormuz in response to Israeli attacks against the Hezbollah militant group in Lebanon, according to The Associated Press. On Wednesday, Iran agreed to temporarily reopen the Strait as part of the two-week truce with the US, through which roughly one-fifth of the world’s oil passes.
Iran’s Revolutionary Guard Corps released a statement urging vessels to follow alternative routes “to comply with the principles of maritime safety and to be protected from possible collisions with sea mines.” Final decisions on passage conditions are made by Iran’s Supreme National Security Council.
The situation has created significant congestion in the Gulf. Nearly 300 to 400 ships are reportedly waiting to exit as soon as they can safely transit the Strait. Industry experts estimate that only 10 to 15 ships may pass each day under the new process, compared to about 135 ships daily before the start of tensions with the US. Martin Kelly, head of advisory at maritime intelligence group EOS Risk, highlighted that the backlog “cannot be cleared in two weeks.”
Shipping companies, including Maersk, the world’s second-largest line, are closely monitoring developments. “The ceasefire may offer transit opportunities, but it does not yet provide full maritime certainty,” the company said, stressing that it would maintain a cautious approach to cargo operations.
Meanwhile, tankers in the Gulf have reportedly been warned that attempts to transit without Iran’s approval could result in strikes, prompting many Western ship owners to delay passage until clear guidelines are issued.
