Iran has implemented a toll system for vessels transiting the Strait of Hormuz, through which approximately 20% of global oil shipments pass. Russia received a full exemption following the announcement by Iran’s ambassador to Moscow on April 24, 2026, while China receives preferential terms for its crude oil imports, of which 45-50% route through this strategic waterway. Tolls range from approximately $1 per barrel to as much as $2 million per vessel, and Iran accepts Chinese yuan, Bitcoin, and stablecoins such as USDT through intermediaries linked to the Islamic Revolutionary Guard Corps. This cryptocurrency payment infrastructure aims to circumvent Western sanctions while generating new revenue for Tehran. Bitcoin transactions flowing to IRGC-linked wallets are expected to trigger enhanced surveillance from Western intelligence agencies, potentially followed by new sanctions.
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