Iran imposes $1 per barrel levy on oil tankers passing through Strait of Hormuz

Hamid Hosseini, spokesperson for the Iranian Petroleum Exporters Union, says country will collect toll charges from oil tankers transiting the strategic waterway and that payments will be processed in cryptocurrency

TEHRAN: (UrduPoint/UrduPoint / Pakistan Point News-April 8^th, 2026) Iran has announced a levy of $1 per barrel on oil transported through the Strait of Hormuz, according to reports citing Iranian officials and international media.

Hamid Hosseini, spokesperson for the Iranian Petroleum Exporters Union, said the country will collect toll charges from oil tankers transiting the strategic waterway and that payments will be processed in cryptocurrency.

He stated that Iran plans to inspect all vessels passing through the Strait and impose fees accordingly. Emphasizing the need for monitoring, he said Iran aims to track the movement of goods through the waterway to prevent the transfer of weapons and ensure compliance with its procedures. He added that while all types of cargo may pass, each vessel will be subject to verification processes that may take time.

According to Hosseini, shipping operators will be required to submit cargo details via email to Iranian authorities. Following verification, vessels will be informed of the applicable charges. Oil tankers will be charged $1 per barrel, while empty ships will be allowed to pass without any fee. Payments will reportedly be required in Bitcoin once approval is granted.

The report further indicated that under a ceasefire framework, Iran and Oman are expected to generate revenue from vessels passing through the Strait of Hormuz.

Iran intends to use the funds for reconstruction purposes, while details regarding Oman’s arrangements remain unclear.

The decision on vessel movement through the Strait lies with Iran’s Supreme National Security Council. International media reports also noted that vessels in the Gulf were warned on Wednesday that unauthorized passage without Iranian approval could lead to interception or potential attacks.

Following a ceasefire agreement between the United States and Iran, maritime traffic through the Strait had resumed, with vessels from Greece and Liberia reportedly passing through. However, Iran later announced restrictions on oil tanker movement in response to Israeli strikes on Lebanon.

Reports suggest that around 187 vessels currently in the Gulf are carrying approximately 175 million barrels of oil and petroleum products, and may depart once conditions stabilize. Analysts estimate that between 300 and 400 vessels are currently waiting to exit the Gulf.

Experts believe that, in the coming days, only a limited number of vessels will be allowed to pass with Iranian authorization, compared to an estimated pre-conflict flow of about 135 vessels per day.