Bloomberg: Iran Begins Charging Commercial Vessels in Strait of Hormuz a "Transit Fee," Payable in Cryptocurrency, Up to $2 Million Per Passage

Bloomberg reports that Iran has begun charging commercial ships passing through the Strait of Hormuz a toll of up to $2 million per voyage, payable in cash USD, cryptocurrency, or barter. Meanwhile, the US and Iran’s public statements are contradictory: the White House calls negotiations “productive,” while Tehran publicly rejects them through state media and demands five major ceasefire conditions, including war reparations and sovereignty over the Strait.

(Background: Iran rejects the US’s 15 ceasefire proposals and sets out five ceasefire conditions: demanding war reparations and control over the Strait of Hormuz.)

(Additional context: US and Iran may hold talks in Pakistan, with US Vice President Harris reportedly acting as negotiator.)

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• White House says “productive,” Tehran says “no negotiations”
• Nuclear plant attacked; Harris’s visit still unconfirmed
• Bitcoin follows Hormuz, stablecoin payments may become new variable

Sources familiar with the matter told Bloomberg that Iranian authorities have started collecting transit fees from some ships passing through the Strait of Hormuz. Depending on the case, each voyage can demand up to $2 million. The fee is handled privately, accepting USD cash, cryptocurrencies, or barter.

This signals Iran’s attempt to monetize the Strait of Hormuz. As the world’s most critical oil route—about 20% of global oil supply passes through—Iran is now using it as leverage, demonstrating military influence and turning it into a source of revenue. Foreign media report that ships from Iran-friendly countries like China and India are operating normally on permitted routes. Analysts suggest that in the future, stablecoins could formalize this payment system, potentially reshaping global oil payment mechanisms.

White House says “productive,” Tehran says “no negotiations”

While this news emerged, the US and Iran’s public statements are sharply contrasting. White House Press Secretary Karoline Leavitt told reporters on Wednesday, “Over the past three days, the US has engaged in productive dialogue. You will see this regime seeking a way out.” President Trump also told Republican Congress members that evening, “They really want an agreement, they just don’t dare to say it.”

In stark contrast, Iranian state media take a different stance. According to Press TV, Tehran’s ceasefire conditions include: the US and Israel must cease attacks, pay war reparations, and Iran’s sovereignty over the Strait of Hormuz must be officially recognized. This openly contradicts the White House’s portrayal of “positive dialogue.”

With less than two days remaining before Trump’s Friday deadline for Iran to complete negotiations, doubts remain about whether an agreement will be reached.

Nuclear plant attacked; Harris’s visit still unconfirmed

On the battlefield, conflict continues despite negotiations. Iran’s Press TV reports that the Bushehr nuclear power plant has been attacked by shelling, adding uncertainty to the escalation.

Diplomatically, CNN reports that US Vice President Harris may visit Pakistan this weekend to participate in Iran-related negotiations. However, Leavitt only said, “The situation remains fluid. Until the White House officially announces, no speculation should be considered definitive,” showing a cautious stance.

Bitcoin follows Hormuz, stablecoin payments may become new variable

The impact on the crypto markets has been direct. During the escalation of the Hormuz crisis, Bitcoin briefly fell below $68,000; after Trump announced a pause on airstrikes, the price surged to $71,000, showing high market sensitivity to geopolitical news. Meanwhile, Brent crude oil prices have risen over 60% this year, reaching $119 per barrel at times, with macro inflation pressures continuing to weigh on risk assets.

A longer-term implication to watch is Iran’s collection of tolls via cryptocurrency—though currently limited in scale, it’s a rare example of a sovereign nation handling cross-border oil transactions outside traditional financial channels and in non-dollar terms. If this model expands and becomes formalized with stablecoins, it could have a significant impact on the global dollar-based energy payment system.