Iran reportedly intends to require ships passing through the Strait of Hormuz to pay the cryptocurrency equivalent of $1 per barrel of oil on board during the two-week ceasefire with the U.S. Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, which works with Iran’s government, told the Financial Times about the requirement on Wednesday. He said that it will cost $1 per barrel of oil and that ships need to email Iranian authorities about what they are carrying. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” Hosseini told the newspaper. He added that the measures are being put in place to make sure that weapons are not carried through the strait.

Full report : An Iranian union official says Iran will demand that shipping companies pay tolls in crypto of $1/barrel of oil for tankers passing through the Strait of Hormuz.