Iran is reportedly considering charging ships traversing the Strait of Hormuz a tariff in cryptocurrency. This move comes amid claims of a ceasefire agreement and heightened geopolitical tensions. A spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union indicated that while empty oil tankers may pass without charge, other vessels could face a $1 per barrel tariff payable in Bitcoin (BTC).
According to reports, Iranian authorities would also assess ships for weapons during the two-week period. This method, utilizing Bitcoin, is intended to provide untraceable payments, circumventing sanctions. The Strait of Hormuz has seen reduced shipping activity following recent air strikes on Iranian targets. This disruption has contributed to a surge in crude oil prices, exceeding $100 per barrel, and volatile cryptocurrency markets.