Iran to charge a Bitcoin toll for ships passing the Strait of Hormuz during ceasefire

Iran’s control over the Strait of Hormuz—one of the world’s most important oil shipping choke points—remains firm, with a new reported proposal to charge a toll for passage during the current ceasefire. According to a report by the Financial Times, Iran intends to require payment in Bitcoin rather than in conventional currencies.

Ceasefire and the reported toll demand

On April 8, the Financial Times published a report titled “Iran demands crypto fees for ships passing Hormuz during ceasefire.” The report described developments during a two-week ceasefire in the conflict involving the United States, Israel and Iran, focused on the Strait of Hormuz.

Before the war, the Strait of Hormuz carried about 20% of global oil flow in tankers supplying Europe, Asia and other regions. The report said Iran plans to charge a toll for ships allowed to pass through the strait, which Iran can influence through long-range missiles, underwater mines and attack drone technologies.

How the payment would work

The Financial Times report included an interview with Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union. Hosseini said oil vessels would need to share inventory data with Iran and pay a fee of $1 per barrel of oil in Bitcoin to be granted safe passage.

He also said that once an email is received and Iran completes its assessment, vessels would be given only a few seconds to pay in Bitcoin, with the stated aim of preventing the payment from being traced or confiscated due to sanctions.

Market reaction and the rationale cited

The report drew attention in the Bitcoin community, coinciding with Bitcoin’s price rising to about $73,000 from the high-$60,000 range.

The article argued that Iran’s preference for Bitcoin reflects constraints created by sanctions and the difficulty of using other payment forms. It cited that Iran does not want dollars because of heavy U.S. sanctions, and it also described limitations around using other currencies or gold due to sanctions exposure and logistical or banking risks.

Regional and political responses

Earlier on April 8, before the Financial Times report was published, President Trump told ABC that a joint venture had been discussed with Iranian leadership to secure the Strait of Hormuz. He said, “We’re thinking of doing it as a joint venture. It’s a way of securing it — also securing it from lots of other people.”

Separately, a statement attributed to a Saudi commentator close to the Saudi royal court said allowing Iran any form of control over the strait would be a “red line,” with the priority being “unimpeded access through the strait.”

After the Financial Times report, Trump said Iran “Should not charge fees,” adding that there were reports Iran was charging fees to tankers passing through the Hormuz Strait and that it should stop.

Why Iran may keep the toll

The article said Hormuz represents Iran’s biggest advantage in the conflict, pointing to Iran’s ability to block passage using long-range weapons and to the relative economics of attacking versus defending ships.

It cited a Trump press conference in which he described the ease of creating unsafe conditions for shipping, including the use of mines or small arms from shore, and suggested that the cost of attacking ships could be lower than the cost of protecting them.

Potential next steps

The article said the long-term solution is likely diplomacy, and that the leverage created by sanction-resistant money could play a role in negotiations—particularly if Bitcoin enables Iran to monetize any toll.

It also described practical challenges for shipping companies if the toll remains in place, noting that acquiring Bitcoin could be difficult given sanctions on many Western exchanges, potentially pushing purchases toward other jurisdictions. The article further suggested that increased demand for Bitcoin could affect mining economics and the geographic distribution of mining activity.