Iran demands the Hormuz oil tanker pay Bitcoin as toll fee

Mars Finance News: April 8, according to the Financial Times, Iran will, during a two-week ceasefire period, require shipping companies to pay tolls, denominated in cryptocurrency, for oil tankers passing through the Strait of Hormuz, in order to maintain control over the waterway. Hamid Hosseini, a spokesperson for the Iranian Oil, Gas, and Petrochemical Products Exporters’ Association, said that each tanker must report its cargo information to Iranian authorities via email, after which Iran will inform the amount of the toll to be paid, and the payment must be made in cryptocurrency. The fee is $1 per barrel of oil, and empty tankers can pass for free. “Once the email arrives and Iran completes its assessment, the vessel will be given a few seconds to pay in bitcoin, ensuring it cannot be traced or seized due to sanctions.”