Global Shipping Industry Warns of Sanctions Bomb..."Pay Iran with Crypto and It's Over"

▲ Iran, Strait of Hormuz, Bitcoin (BTC)/AI Generated Image

A warning has been issued that if Iran's demand for transit fees using Bitcoin (BTC) becomes a reality, global shipping companies could face the risk of sanctions violations.

According to crypto media outlet Cointelegraph on April 11 (local time), blockchain analytics firm Chainalysis stated that ship operators are highly likely to violate US and international sanctions if they pay fees to Iran with cryptocurrency. Kaitlin Martin, a senior intelligence analyst at Chainalysis, pointed out, “Any form of funds paid to the Iranian government can be considered ‘material support.’”

In particular, the Islamic Revolutionary Guard Corps (IRGC) is subject to sanctions in many countries, including the United States. It was explained that if a company is involved in financial flows related to this organization, it could be interpreted as a sanctions violation, regardless of whether there was a direct transaction. Martin emphasized, “Under the current sanctions regime, such transactions entail significant legal risks.”

This warning comes amid recent reports that Iran is considering imposing cryptocurrency-based transit fees on ships passing through the Strait of Hormuz. Indeed, some discussions have mentioned a method of paying about $1 per barrel in cryptocurrency.

Iran has used cryptocurrency as a means to circumvent sanctions due to its limited access to the international financial network. According to Chainalysis, the size of Iran's cryptocurrency market is estimated to be approximately $7.8 billion as of 2025, with more than half of this flow being linked to the Revolutionary Guard Corps.

However, there is also a view in the industry that cryptocurrency payment methods face significant practical limitations for actual application in commercial shipping systems. It is assessed that large-scale transaction processing, regulatory compliance issues, and traceability combine to create a structure that makes it difficult for mainstream shipping companies to actively participate.

*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.*