Iranian Government to Collect Strait of Hormuz Passage Fees in Cryptocurrency, Bitcoin Surpasses $72,000

Iran's Passage Fees

According to Hamid Hosseini, representative of the Union of Exporters of Oil, Gas and Petrochemical Products, who spoke to the Financial Times on the 8th, the Iranian government plans to collect passage fees from oil tankers traversing the Strait of Hormuz in cryptocurrencies including Bitcoin, at a rate of $1 per barrel.

Tanker owners must report the exact cargo volume to the Iranian government via email, and the fees are calculated based on this reported volume...