Iran reportedly will demand that shipping companies pay tolls in cryptocurrency for oil tankers passing through the Strait of Hormuz, as it seeks to retain control over the key waterway during the two-week ceasefire.
A spokesperson tied to Iran's oil export sector told Financial Times that Tehran plans to impose a $1-per-barrel toll on tankers, payable in digital currencies such as Bitcoin, while also requiring vessels to submit cargo details for approval before transit.
"Iran needs to monitor what goes in and out of the strait," the spokesperson said, adding that each vessel would undergo a review process and be given only seconds to complete payment once cleared.
The move raises serious concerns among U.S. allies and energy markets, as the Strait of Hormuz handles roughly a fifth of the world's oil supply.
During the U.S.-Israel conflict against Iran, shipping traffic through the narrow passage slowed dramatically, contributing to global price volatility and supply uncertainty.
The proposed system would reportedly require tankers to travel along a route close to Iran's coastline and obtain prior authorization or risk being targeted.
According to the Financial Times, vessels were warned via radio broadcast that those attempting to pass without approval could face military strikes.
President Donald Trump has insisted that any ceasefire agreement must include the "complete, immediate, and safe opening" of the strait, underscoring the administration's position that free navigation is non-negotiable.
However, Iran's apparent effort to maintain leverage over the waterway — even during a ceasefire — has sparked alarm across the region.
Gulf states such as Saudi Arabia and the United Arab Emirates have long viewed unrestricted access to the strait as a red line, with analysts warning that allowing Tehran to control passage could shift the balance of power in global energy markets.
Industry leaders are already taking a cautious approach.
Major shipping firms have indicated they are awaiting clarity before resuming normal operations, while hundreds of vessels remain backed up in the Persian Gulf, creating what some executives describe as a car park of delayed cargo.
Experts say the bottleneck could take weeks to resolve, even under the best conditions, with far fewer ships able to pass through the strait each day compared to pre-conflict levels.
International law also complicates the situation. Under widely recognized maritime rules, including the United Nations Convention on the Law of the Sea, countries are generally prohibited from interfering with transit through key global waterways.
Analysts cited by The New York Times note that imposing tolls or restricting access could violate long-standing norms governing international shipping.
Still, enforcement of such rules is often limited, particularly when major powers are unwilling to challenge violations directly.
For Trump and his allies, Iran's actions reinforce longstanding concerns about the regime's reliability and intentions.
Critics of Tehran argue that attempts to control shipping lanes — even during peace talks — demonstrate why strong U.S. leadership and continued pressure are necessary to secure a lasting agreement.
As negotiations continue, the future of the Strait of Hormuz remains a critical flashpoint, with global markets and geopolitical stability hanging in the balance.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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