Iran will require payment for passage through Strait of Hormuz even during ceasefire — FT
Illustrative photo: vessels will pay for passage through the Strait of Hormuz during the ceasefire (Getty Images)
Iran will demand payment in cryptocurrency for the passage of oil tankers through the Strait of Hormuz during a two-week ceasefire with the United States, according to the Financial Times.
Hamid Hosseini, spokesperson for the Union of Oil, Gas and Petrochemical Exporters of Iran, said that Tehran wants to charge a fee for the passage of any tankers and assess each vessel individually.
He noted that Iran needs to control everything entering and exiting the Strait to ensure that the two-week period is not used for the transfer of weapons.
The decision on the conditions for passage through the strait is made by Iran’s Supreme National Security Council.
"Everything can pass through, but the procedure will take time for each vessel, and Iran is not in a rush," Hosseini emphasized.
What price Tehran has set
Each tanker must send an email to the Iranian authorities with information about its cargo, after which Iran will inform them of the amount of the fee to be paid in digital currencies.
According to Hosseini, the fee is $1 per barrel of oil — he added that empty tankers can pass without hindrance.
He said that as soon as the email is received and Iran completes its assessment, vessels are given time to pay in Bitcoin, which he claimed guarantees that they cannot be tracked or confiscated due to sanctions.
FT reported that today, April 8, tankers in the Persian Gulf received radio messages warning that they would be destroyed if they attempted to pass through the strait without permission.
Ceasefire between the United States and Iran
On the night of April 8, just hours before the expiration of a US ultimatum, Trump stated that he had agreed to a two-week ceasefire with Iran in exchange for opening the Strait of Hormuz.
In addition, the media reported that the first direct talks between Washington and Tehran since the start of the war are scheduled for Friday, April 10, in the capital of Pakistan. The US delegation will likely be led by Vice President J.D. Vance.
