How Much Will Iran Charge Shipping Firms To Let Oil Tankers Cross The Strait Of Hormuz?

Iran is preparing to impose a new layer of control over the Strait of Hormuz, with reports suggesting it may demand cryptocurrency tolls from shipping companies before allowing oil tankers to pass through the strategic waterway. The move comes despite the current two-week ceasefire with the United States and has added to uncertainty across global shipping lanes, as hundreds of vessels remain stranded in the Gulf waiting for safe clearance.

Iran tightens control over Strait of Hormuz

According to Hamid Hosseini, spokesperson for Iran's Oil, Gas and Petrochemical Products Exporters' Union, Tehran now wants to inspect every vessel and collect a toll from ships transiting the strait.

"Iran needs to monitor what goes in and out of the strait to ensure these two weeks aren't used for transferring weapons," Hosseini quoted as saying by the Financial Times.

He reportedly said that while all ships would eventually be allowed to pass, the process would not be quick, making it clear that Iran intends to maintain strict oversight.

Iran's latest stance has raised fresh concerns over one of the world's most important maritime chokepoints, through which roughly one-fifth of global oil trade passes.

$1 per barrel fee, payment in bitcoin

Before Iran shut the waterway again, Hosseini had reportedly outlined how the toll system would work. Under the proposed arrangement, tankers crossing the Strait of Hormuz would first have to notify Iranian authorities about their cargo via email. Tehran would then review the shipment and inform the vessel of the fee, which would need to be paid in digital currency.

The reported toll is set at $1 per barrel of oil, while empty vessels would be allowed to pass without charge.

"Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can't be traced or confiscated due to sanctions," the spokesperson added.

The use of cryptocurrency is seen as a way for Iran to avoid sanctions-related financial tracking while still monetising control over the passage.

Strait briefly reopened, then shut again

The development follows Iran's decision to once again close the Strait of Hormuz after Israeli attacks on the Hezbollah militant group in Lebanon, according to The Associated Press. On Wednesday, Iran had agreed to temporarily reopen the strait as part of its two-week truce arrangement with the United States.

However, the situation remained unstable.

In a statement cited by local media, Iran's Revolutionary Guard Corps said, "All ships intending to transit the Strait of Hormuz are hereby notified that in order to comply with the principles of maritime safety and to be protected from possible collisions with sea mines...they should take alternative routes for traffic in the Strait of Hormuz."

Decisions on vessel movement and passage conditions are being handled by Iran's Supreme National Security Council, underlining how politically and militarily sensitive the route has become.

Threats, backlog and growing shipping chaos

Tensions escalated further on Wednesday when tankers in the Gulf were reportedly warned they could be targeted if they attempted to cross without prior Iranian approval.

"If any vessels try to transit without permission, (they) will be destroyed," the broadcast reportedly said, FT cited.

That warning has effectively frozen commercial movement through the corridor for now, with Western shipping firms unwilling to take the risk until Iran's exact rules are fully understood.

Maersk, the world's second-biggest shipping line, said it was "working with urgency" to clarify Iran's terms on the waterway.

"The ceasefire may transit opportunities, but it does not yet provide full maritime certainty," the company said.

It added that it would continue taking a "cautious approach" with cargoes and was not yet altering any specific services.

Industry executives told the Financial Times that nearly 300 to 400 ships are now waiting to exit the Gulf as soon as it becomes safe to pass through Hormuz, highlighting the scale of the disruption already building up.

Backlog may outlast the ceasefire

Maritime experts believe the congestion cannot be cleared within the current two-week ceasefire window.

Martin Kelly, head of advisory at maritime intelligence group EOS Risk, was quoted as saying there is "no way" the current queue of vessels can be processed in time.

He estimated that only around 10 to 15 ships may be able to pass through the strait each day under the current inspection-heavy conditions, calling the procedure "time-consuming".

That marks a dramatic slowdown from pre-conflict traffic levels, when about 135 ships reportedly used the waterway every day.

With Iran signalling that it is "not in a rush" and shipping firms still waiting for operational clarity, the Strait of Hormuz remains a major flashpoint, with the potential to disrupt global oil flows even during a temporary ceasefire.