Trump to discuss Strait of Hormuz demining at G7 summit as crypto enters the maritime conflict

The Strait of Hormuz, a narrow waterway through which a massive share of global oil shipments pass, has become the most dangerous chokepoint in international trade. And at the G7 summit in Évian-les-Bains, France, scheduled for June 15-17, President Trump is expected to discuss how to clean it up.

The UK and France are leading a proposal for a Europe-led mine-clearing mission in the strait, and they need Washington’s endorsement. Iran has reportedly deployed around 6,000 sea mines in the waterway.

The military backdrop

US-Iran tensions escalated sharply after military strikes in late February, setting off a chain of events that has fundamentally reshaped the security landscape of the Persian Gulf.

By March, US forces had destroyed 44 Iranian mine-laying vessels. The Pentagon began its own preliminary mine-removal operations on April 11, deploying destroyers and underwater drones to begin chipping away at the problem.

Pentagon officials estimate that complete mine clearance could take up to six months. The European-led initiative is designed to commence immediately following any peace agreement between the US and Iran, building on the groundwork the US Navy has already laid.

Where crypto enters the picture

Reports have surfaced suggesting that Iran has been demanding payments in Bitcoin and stablecoins for safe maritime passage through the strait. Iran has long been squeezed by US sanctions that have cut it off from the global financial system. Stablecoins provide the price stability needed for predictable transactions, while Bitcoin offers a store of value that sits outside the reach of any central authority.

If major stablecoin issuers face pressure to block wallets associated with Iranian transactions, it could accelerate the conversation around programmable compliance and the difference between centralized stablecoins like USDT and USDC versus decentralized alternatives.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.