Iran's Strait of Hormuz Toll Operation Sees $2 Million Per Vessel, Includes USDT Payments

The Strait of Hormuz, a critical waterway for global oil shipments, has become a hub for Iran's toll operation. According to recent reports, the country is collecting between $1.5 to $2 million per vessel passing through the strait, with some payments settled in USDT stablecoin.

The use of digital assets in this context marks a significant milestone, as it represents one of the first instances of a nation-state demanding cryptocurrency as payment for transit through an international waterway.

However, this development has raised concerns among U.S. authorities, with the Office of Foreign Assets Control (OFAC) warning maritime firms about potential sanctions risks. OFAC has stated that interacting with Iranian digital assets may lead to secondary sanctions for companies involved in such transactions.