Tankers passing through Strait of Hormuz will have to pay cryptocurrency toll
Iran will demand that shipping companies pay tolls in cryptocurrency for oil tankers passing through the Strait of Hormuz, as it seeks to retain control over passage through the key waterway during the two-week ceasefire. Hamid Hosseini, a spokesperson for Iran’s Oil, Gas, and Petrochemical Products Exporters’ Union, told the FT on Wednesday that Iran wanted to collect tolling fees from any tanker passing and to assess each ship. “Iran needs to monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons,” said Hosseini, whose industry association works closely with the state. Read full article Comments
Iran will demand that shipping companies pay tolls in cryptocurrency for oil tankers passing through the Strait of Hormuz, as it seeks to retain control over passage through the key waterway during the two-week ceasefire.
Hamid Hosseini, a spokesperson for Iran’s Oil, Gas, and Petrochemical Products Exporters’ Union, told the FT on Wednesday that Iran wanted to collect tolling fees from any tanker passing and to assess each ship.
Any tanker passing must reveal its cargo so Iran can determine transit fee amount.
“Everything can pass through, but the procedure will take time for each vessel, and Iran is not in a rush,” he added.
Decisions on the conditions for passing the strait are taken by Iran’s Supreme National Security Council. Hosseini’s remarks suggest Iran will require any tankers to use the northerly route close to its coastline, raising questions over whether Western or Gulf state-linked vessels will be willing to risk transit.
