Via kpler.com
Iran offers transit fee exemptions to Chinese and Russian vessels in Hormuz, accepts Bitcoin and USDT for tolls
Iran's new strait of Hormuz toll system carves out preferential treatment for allied nations while quietly building a crypto-based payment infrastructure to dodge sanctions
Iran has rolled out a toll system for vessels transiting the Strait of Hormuz, one of the most strategically vital chokepoints in global energy trade, and it’s offering full exemptions to Russia and preferential terms to China. The move is designed to reward allies while squeezing everyone else.
Iran is accepting Bitcoin and stablecoins like USDT as payment for these tolls, facilitated through intermediaries linked to the Islamic Revolutionary Guard Corps.
What Iran is actually doing
Starting in mid-March 2026, Iran began implementing transit tolls on commercial vessels passing through the Strait of Hormuz. Roughly 20% of all global oil shipments flow through this narrow waterway.
The toll structure reportedly ranges from approximately $1 per barrel to as much as $2 million per vessel.
On April 24, 2026, Iranian Ambassador to Russia Kazem Jalali announced that Russia would receive full exemptions from the new tolls. Then on July 5, 2026, Iran’s Ambassador to China reaffirmed that friendly nations would receive special considerations.
China routes an estimated 45-50% of its crude oil imports through the Strait of Hormuz.
The crypto payment angle
Payments for the Hormuz tolls can reportedly be made in Chinese yuan, Bitcoin, or stablecoins like USDT. The transactions are facilitated through intermediaries connected to the IRGC. This crypto payment mechanism reportedly began in mid-March 2026, coinciding with the broader toll implementation.
Why this matters for markets
For energy markets, the toll introduces a new cost layer for non-allied vessels. Even at $1 per barrel, the cumulative impact on tanker economics across millions of barrels daily is meaningful.
Bitcoin flowing into IRGC-linked wallets will likely trigger enhanced blockchain surveillance from Western intelligence agencies, potentially leading to new rounds of address blacklisting on major exchanges.
The risk calculus for institutional crypto investors gets more complicated when the same assets used in regulated ETFs are simultaneously facilitating sanctioned trade.