Iran Demands Transit Fees for Passage Through the Strait of Hormuz…Using Stablecoins and Yuan Payments

Iran has been found to be imposing transit fees on vessels passing through the Strait of Hormuz and collecting part of the charges in stablecoins.

On the 1st (local time), Bloomberg, citing multiple anonymous sources, reported that “Iran’s Islamic Revolutionary Guard Corps (IRGC) is effectively exercising control by demanding payment as a condition for granting passage permission to ships transiting the strait.”

Ship operators must submit vessel information and cargo details through intermediaries linked to the IRGC and then negotiate the terms of passage.

The transit fee typically starts at about $1 per barrel of crude oil, and payments are said to be made in yuan or stablecoins.

Iran is applying differentiated passage terms depending on the level of friendliness by country—offering favorable terms to vessels from friendly nations while imposing passage restrictions or issuing threats of attack against vessels from hostile countries, according to the report.

Vessels that pay are assigned a passage code and route, and then pass through the strait under escort by the Iranian navy.

The Strait of Hormuz is a critical maritime route through which about 20% of global seaborne crude oil and liquefied natural gas volumes pass, and the move is fueling unease in global energy markets.

Experts noted that the measure lacks a clear basis under international law and that dealings with the IRGC, which is subject to sanctions, could create legal risks.