Iran plans to charge a $1 toll per barrel for oil tankers passing through the Strait of Hormuz, a vital waterway for global oil trade. Payment will be made in cryptocurrency, specifically Bitcoin, to avoid tracking under international sanctions. Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, stated that vessels must email Iranian authorities with cargo details and undergo inspections. The toll is aimed at generating revenue for post-war reconstruction in Iran. However, Oman has firmly rejected this proposal, emphasizing that no fees can be levied on vessels using the strait, which is recognized as an international waterway. The 34-kilometre-wide Strait of Hormuz is crucial, as it facilitates approximately 20% of the world's oil trade. The final conditions for passage will be determined by Iran's Supreme National Security Council, potentially complicating navigation for vessels associated with Western nations. In an unexpected twist, U.S. President Donald Trump hinted at a possible joint toll venture with Iran, although this remains unverified by other officials.