- By Nidhi Giri
- Thu, 09 Apr 2026 12:51 PM (IST)
- Source:JND
Amid the US-Iran ceasefire, reports are emerging that Iran's Islamic Revolutionary Guard Corps are seeking tolls in cryptocurrency Bitcoin and Chinese Yuan from ships crossing the Strait of Hormuz. As per The Wall Street Journal, broadcasts are also alerting ships without prior approval as they could be targeted. The report added that only a few ships were given permission to pass the strait on specific days this week.
According to The Financial Times, an Iranian industry representative informed that laden tankers could face tariffs of USD 1 per barrel. He added that empty vessels will be allowed to move freely. Meanwhile, tariffs could be in millions of dollars for supertankers based on their size and cargo.
Meanwhile, in a statement, IRGC said, "All ships intending to transit the Strait of Hormuz are hereby notified that in order to comply with the principles of maritime safety and to be protected from possible collisions with sea mines...they should take alternative routes for traffic in the Strait of Hormuz.”
Iran’s Demands From Ships Crossing Hormuz
-Details on mail regarding vessel and prior notice of cargo.
-Bitcoin or Chinese yuan payments that need to be decided in advance.
-Friendly cargos will move faster and without hassle whereas others may face restrictions or denial.
-Iranian authorities approval for transit
-Use of a northerly corridor close to Iran's coast, between Qeshm and Larak islands
-Movement between Qeshm and Larak islands. This is a corridor near the Iran coast.
Why Iran Selected Bitcoin, Yuan As Payment Options
Western sanctions by the United States and Europe have made it difficult for Iran to conduct transactions in dollars. As a result, alternative methods such as cryptocurrencies and Chinese yuan help. Officials in the region said that some transactions are already being settled in yuan, raising concerns among Gulf oil producers. They fear a potential erosion of Western dominance in global energy trade.
US-Iran Ceasefire
United States President Donald Trump on Wednesday announced a two-week ceasefire with Iran just before a major deadline. As part of this deal, Iran agreed to reopen the Strait of Hormuz, a critical maritime chokepoint which handles approximately 20 per cent of the global oil trade. While both sides show signs of reducing tension, the situation remains tense. Shortly after the ceasefire announcement, there were heavy air strikes in Lebanon.
Earlier, Iran had blocked the strait since the outbreak of the conflict on February 28, which caused global oil prices to rise sharply. The reopening is expected to help stabilise energy supplies, but safety risks and military tensions are still causing concern.