Iran offers transit fee exemptions to Chinese and Russian vessels in Hormuz, accepts Bitcoin and USDT for tolls

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 rep...