Iran Allows Vessels to Pay Maritime Toll in BTC, USDT, or Yuan

The Iranian government has introduced a new maritime toll policy for commercial vessels passing through the Persian Gulf Strait, which can reach up to $2 million per ship. The policy allows payments in Chinese yuan, Bitcoin (BTC), or Tether (USDT), marking one of the most unusual payment frameworks ever implemented for a strategic international shipping route.

The Persian Gulf Strait is a vital waterway connecting the Persian Gulf to international markets, with millions of barrels of crude oil and commercial cargo passing through it daily. The new toll policy may significantly impact shipping economics, with increased operating costs potentially influencing freight pricing across global supply chains.

Industry observers note that cryptocurrency transactions can offer several operational advantages, including faster international settlements, reduced dependency on intermediary financial institutions, and around-the-clock transaction capabilities. However, cryptocurrency payments also introduce considerations related to compliance, custody, accounting, transaction verification, and price volatility.