Iran has declared that it alone will manage and reopen maritime traffic through the Strait of Hormuz, rejecting any shared responsibility with other nations. The announcement cements Tehran’s bid to turn the world’s most strategically important oil chokepoint into a revenue machine, one that increasingly runs on Bitcoin.
The Strait of Hormuz is the narrow waterway between Iran and Oman that historically facilitated around 20-25% of global seaborne oil and LNG shipments.
From closure to crypto payments
Iran closed the Strait from March 2-4, 2026, sending shockwaves through global energy markets. Partial reopenings followed in April, with Iranian officials claiming the route was “completely open” for commercial vessels. That claim proved optimistic, as subsequent US blockades and renewed strikes continued to disrupt shipping.
By mid-June 2026, shipping traffic had reached its highest levels since the conflict’s outbreak.
