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▲ Bitcoin (BTC), Iran War, Crude Oil/AI generated image
The Iranian government has begun collecting tolls from oil tankers passing through the Strait of Hormuz using Bitcoin (BTC).
According to a Decrypt report on April 9, Iran is demanding cryptocurrency payments from oil tankers traversing the strait during a two-week ceasefire agreed upon with the United States.
Hamid Hosseini, spokesperson for the Iran Oil, Gas, and Petrochemical Products Exporters' Union, stated in an interview with the Financial Times that all oil tankers intending to pass through the strait must submit cargo information via email. Once reviewed by Iranian authorities, vessels must immediately pay the toll in Bitcoin. The toll is $1 per barrel of crude oil. Empty vessels without cargo can pass free of charge but undergo a surveillance procedure to check for weapons smuggling.
Hosseini explained that Bitcoin was chosen as the payment method to avoid fund tracking and seizure under international sanctions. Iran is using this ceasefire period to consolidate its de facto control over the strait. In reality, maritime control is being strictly enforced, as evidenced by the Panamanian-flagged oil tanker Aurora, which abruptly changed its course and turned back under the instructions of Iranian authorities.
Bitcoin's price saw a strong surge following the news of Iran's toll collection, temporarily surpassing $72,000. Market observers are paying close attention to the phenomenon of Bitcoin being used as a means to circumvent sanctions in international transactions, monitoring potential changes in the future global trade environment. Investors are focusing on the impact of the direct negotiations between the U.S. and Iran, scheduled for Friday in Islamabad, on the operation of the strait and market trends.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
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