Iran will collect cryptocurrency payments as transit fees from oil tankers passing through the Strait of Hormuz during the two-week ceasefire with the United States, according to an industry official, The Caspian Post reports, citing the Financial Times.

Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, said crypto-denominated tolls will be imposed on fully loaded vessels as the country aims to “monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons.”

Under the proposed framework, tankers will be required to submit cargo details to Iranian authorities via email, with the toll reportedly set at $1 per barrel of oil. Authorities will then provide instructions on how to pay the fee using digital assets, with bitcoin mentioned as a possible payment option.

Hosseini indicated that empty tankers would be allowed to pass without charge, while fully loaded vessels must follow the reporting requirements and complete the crypto payment process before receiving clearance to transit.

“Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” he said.

He also suggested that Tehran could direct maritime traffic along the northern route of the strait, closer to Iran’s coastline. Such a move may raise concerns about whether Western and Gulf-linked shipping companies are willing to operate in waters considered to carry higher risk.