Iran wants to charge rent on one of the world’s most critical shipping lanes. And it’s willing to accept Bitcoin.
The Iranian parliament has approved a management plan that would impose rial-based tolls on oil and LNG tankers passing through the Strait of Hormuz, the narrow waterway connecting the Persian Gulf to the open ocean. The plan also includes passage restrictions targeting US and Israeli vessels.
Roughly 20% of global oil and LNG shipments moved through that strait before the current conflict erupted on February 28. Today, according to maritime intelligence firm Kpler, just a handful of ships are making the transit.
Why crypto matters here
Iran’s proposal explicitly allows for tolls to be paid in Bitcoin or other digital currencies alongside the Iranian rial, specifically to route around Western sanctions infrastructure.
