A Formal System Run by the Revolutionary Guards According to a detailed Bloomberg report published on April 1, 2026, Iran has established a genuine “tollbooth” in the strait. The process works as follows:
Ship owners contact an intermediary linked to the Islamic Revolutionary Guard Corps (IRGC). They submit full details of the vessel: owner, flag, cargo, crew, and route. After screening (vessels linked to the United States, Israel, or “hostile” countries are often rejected or forced to change flags), fees are negotiated. Once payment is made, the ship receives a secret clearance code valid for a single transit. The Iranian navy then provides an escort to “protect” the vessel during passage.
Base fees for oil tankers are approximately $1 per barrel of oil carried. For a Very Large Crude Carrier (VLCC) transporting around 2 million barrels, the cost can reach up to $2 million per crossing. Why Yuan and Crypto? This requirement is deliberate. It forms part of Iran’s strategy to bypass U.S. sanctions and accelerate de-dollarization.
The Chinese yuan (RMB) strengthens economic ties with China, Iran’s largest buyer of oil. Stablecoins enable fast, borderless transfers that are difficult for traditional Western financial systems to block.
At least two ships have already paid in yuan, and between 15 and 18 others are reported to have used this payment system to transit safely. Impact on Global Trade The Strait of Hormuz handles roughly 20% of the world’s seaborne oil and liquefied natural gas. Any increase in costs or disruption directly affects global energy prices. Countries considered “friendly” (China, Russia, and some Asian nations) receive more favorable treatment. Others must pay or face significant risks, including drone attacks or seizures. International Reactions
Washington views the move as a new form of “maritime blackmail” and an escalation in economic warfare. China has remained quiet but clearly benefits from the growing international use of the yuan. Maritime companies, insurers, and analysts (including Lloyd’s List) are closely monitoring the situation. Some shipowners have already chosen to pay to avoid costly delays.
A New Era for Maritime Trade? This system represents another significant step toward the fragmentation of the global financial order. For the first time, a sovereign state has officially incorporated cryptocurrencies into large-scale strategic payments. Under heavy pressure from sanctions and regional conflicts, Iran has turned a vulnerability into a source of revenue and geopolitical leverage. The Strait of Hormuz is no longer just an oil chokepoint — it has become a geopolitical toll road.