Iran To Charge $1 Per Barrel Of Oil Passing Through Strait Of Hormuz After ‘ceasefire’: Report

2 min readApr 8, 2026 08:59 PM IST

Iran is reportedly planning to levy a transit fee on every oil vessel passing through the Strait of Hormuz and has said that it’ll demand the shipping companies to pay the toll in cryptocurrency as the Islamic Republic seeks to keep the control over the passage of key waterway.

According to Iran’s Oil, Gas and Petrochemical Products Exporters’ Union spokesperson Hamid Hosseini, Tehran is seeking to charge fees from any oil tanker passing and to assess each ship. “Iran needs to monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons,” Hosseini added, Financial Times reported.

The report added that for any vessel to pass through the Strait of Hormuz, the decision is taken by Iran’s Supreme National Security Council. Hosseini suggested that any tankers passing through the strait will require the northerly route which is close to its coastline.

“Everything can pass through, but the procedure will take time for each vessel, and Iran is not in a rush,” he added. Hosseini told FT that Iran is planning to levy $1 per barrel of oil and added that empty tankers need not pay any charge and can pass freely.

A radio broadcast was received by tankers in the Gulf on Wednesday which allegedly warned the vessels that they would be targeted with military strikes if a prior approval is not taken by the Iranian authorities.

The Iranian navy said that passage through the Strait of Hormuz remains shut, according to several shipping sources, The Guardian reported. “Any vessel trying to travel into the sea…will be targeted and destroyed,” the message stated.

This comes after US-Israel and Iran agreed to a two-week ceasefire which came as an 11th hour deal after President Donald Trump’s threat to unleash a bombing campaign which would have destroyed Tehran’s power plants and key energy infrastructure.

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