Iran Demands High Transit Fees from Vessels through Strait of Hormuz

Iran's government has implemented a toll system on vessels passing through the strategic Strait of Hormuz, collecting up to $2 million per vessel in transit fees.

The funds collected are reportedly used entirely for Iran's treasury, making it a significant source of revenue for the country.

In a rare instance, some of these toll payments have been made using Tether's USDT stablecoin, highlighting the growing role of cryptocurrencies in international transactions and sanctions evasion.