Iran demands transit fees in yuan, stablecoins for Strait of Hormuz passage

Iran is imposing transit fees on vessels passing through the Strait of Hormuz and collecting part of the charges in yuan and stablecoins, according to a Bloomberg report citing anonymous sources.

The Islamic Revolutionary Guard Corps is effectively exercising control by demanding payment as a condition for granting passage permission to ships transiting the strait. Ship operators must submit vessel information and cargo details through intermediaries linked to the IRGC before negotiating passage terms.

The transit fee typically starts at about US$1 per barrel of crude oil, with payments reportedly made in yuan or stablecoins.

Iran is applying differentiated passage terms based on the level of friendliness by country, offering favorable terms to vessels from friendly nations while imposing passage restrictions or issuing attack threats against vessels from hostile countries, the report said.

Vessels that pay are assigned a passage code and route, then pass through the strait under escort by the Iranian navy.

The Strait of Hormuz is a critical maritime route through which about 20 percent of global seaborne crude oil and liquefied natural gas volumes pass. The move is fueling unease in global energy markets.

Experts noted the measure lacks a clear basis under international law, and dealings with the IRGC – which is subject to sanctions – could create legal risks.