Iran Imposes $1 per Barrel Oil Passage Toll Through Hormuz Strait, Accepts Yuan or Stablecoins
Iran's National Security Committee has approved a new toll system for ships transiting the Strait of Hormuz, with payments demanded in Chinese yuan or cryptocurrency stablecoins. The move marks a strategic shift away from dollar-denominated transactions amid ongoing geopolitical tensions.
The process involves rigorous screening by IRGC-linked intermediaries, with vessels assessed for connections to Israel, the US, or other 'hostile' nations. Oil tankers face an initial fee of approximately $1 per barrel, with negotiated rates varying based on a country's relationship with Iran.
Approved vessels receive encrypted route instructions and naval escorts after payment clearance. The system highlights Iran's growing use of alternative financial networks, including digital assets like USDT or USDC stablecoins, to circumvent traditional banking channels.
