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▲ Bitcoin (BTC), Iran War, Crude Oil/AI Generated Image
The Iranian government has begun collecting tolls for oil tankers passing through the Strait of Hormuz in Bitcoin (Bitcoin, BTC).
According to a Decrypt report on April 9, Iran is demanding cryptocurrency payments from oil tankers passing through the strait during a two-week ceasefire agreed upon with the United States.
Hamid Hosseini, spokesperson for the Iranian Oil, Gas, and Petrochemical Products Exporters' Union, stated in an interview with the Financial Times that all oil tankers intending to pass through the strait must submit cargo information via email. Once reviewed by Iranian authorities, vessels must immediately pay the toll in Bitcoin. The toll is $1 per barrel of crude oil. Empty vessels without cargo can pass for free but undergo a surveillance procedure to check for weapons smuggling.
Hosseini explained that Bitcoin was chosen as a payment method to avoid fund tracking and seizure under international sanctions. Iran is using this ceasefire period to solidify its de facto control over the strait. In reality, maritime control is being strictly enforced, with the Panamanian-flagged oil tanker Aurora, for example, abruptly changing its course and returning under the direction of Iranian authorities.
The price of Bitcoin showed a strong upward trend upon the news of Iran collecting tolls, briefly surpassing $72,000. Market observers are noting the phenomenon of Bitcoin being used as a means to circumvent sanctions in international transactions and are closely watching for potential changes in the future international trade environment. Investors are focusing on the impact of the direct negotiations between the U.S. and Iran, to be held in Islamabad on Friday, on the operation of the strait and market trends.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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