Iran will demand shipping companies pay tolls in Bitcoin (CRYPTO: BTC) for oil tankers passing through the Strait of Hormuz during the two-week ceasefire, directly contradicting President Trump’s demand for “complete, immediate, and safe opening” of the waterway.
The Bitcoin Toll System
Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that Iran wants to collect tolling fees from any tanker passing and 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 said.
His industry association works closely with the state.
Each tanker must email authorities about its cargo. Iran will then inform them of the toll in digital currencies.
The tariff is $1 per barrel of oil, while …Full story available on Benzinga.com
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