Seven supertankers sailed out of Iran’s Chabahar port on June 19, carrying approximately 14 million barrels of crude oil. That marks a dramatic reversal from May, when Iranian seaborne crude exports reportedly fell to near zero under a US naval blockade.
The blockade, which began around April 13, had choked Iranian exports by over 80% from pre-blockade peaks of roughly 2.1 million barrels per day. Now that it’s been lifted as part of a broader US-Iran peace agreement, the taps are back on. Iran has been demanding Bitcoin-denominated transit fees for tankers passing through the Strait of Hormuz.
From zero to fourteen million barrels
Even before the blockade was formally lifted on June 17, vessels like the Hero II and Sonia I had already transported nearly 5 million barrels, navigating around shipping restrictions. The full reopening on June 19 then unleashed a wave of departures, with seven supertankers leaving a single port in a single day. Traffic from neighboring oil-exporting countries has visibly decreased during this same period.
Bitcoin as an oil toll booth
