Overview
- Bloomberg reporting indicates the IRGC now operates a formal toll-and-escort system for Hormuz transits that charges about $1 per barrel, assigns ships a five-tier friendliness score, issues a single-use VHF passcode, and guides them with Iranian naval escorts after payment in stablecoins or Chinese yuan.
- At least 15 to 18 vessels have reportedly used the system in recent weeks, suggesting the process has moved from trial to real-world use.
- Stablecoins, which are crypto tokens pegged to fiat currencies, keep invoice values steady and move over non-bank rails, helping Iran avoid U.S. dollar clearing and traditional sanctions choke points.
- Iran’s parliamentary National Security Committee approved a Strait of Hormuz Management Plan that cites rials for tolls on paper, yet reporting says payments are being taken in yuan and stablecoins in practice.
- Since the conflict began, Bitcoin has fallen about 12% while gold held more safe-haven demand, underscoring that crypto’s frontline use in this case is for payments rather than as a wartime hedge.