Iran demands Bitcoin from oil tankers passing through the Strait of Hormuz

Shipping companies and crew members reported in recent days that Iranian naval and coastguard units instructed oil tankers to transfer Bitcoin to Iranian-controlled cryptocurrency wallets before proceeding through the Strait of Hormuz. The requests targeted tankers carrying crude oil and refined products bound for Asia and Europe.

Bitcoin jumped 4.3% to $71,752 on April 8 after news of a two-week ceasefire between the United States and Iran lifted market sentiment. The cryptocurrency briefly moved above $72,700, marking its highest level since March 18.

Notices reached vessel masters directly or were sent to shipowners through intermediaries. Each notice specified transfers to designated cryptocurrency addresses rather than bank accounts. Operators who did not comply reported increased inspections, delays or the risk of detention by Iranian authorities.

Shipowners, charterers and managers said they are reviewing the notices and discussing legal and operational responses with insurers and classification societies. A senior operations manager, speaking on condition of anonymity, described being told to make a bitcoin transfer to a wallet linked to Iranian officials and added that the firm was exploring whether payment could be made without exposing crew or assets to legal or security risks.

Insurers and brokers have been alerted and are assessing whether the incidents affect liability and war-risk cover for vessels operating in the area. Some charterers and cargo owners are considering delays or rerouting for future shipments while they evaluate exposure.

The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and is the main route for tankers leaving Gulf oil terminals. A significant share of global seaborne crude passes through the channel. Iran has previously seized vessels and carried out naval actions in the waterway.

Analysts and maritime security consultants say Iranian actors have used alternative payment methods to work around financial restrictions, and that cryptocurrency can be used to transfer value outside conventional banking systems. Iranian authorities have not issued public statements explaining the recent instructions.

Companies operating tankers in the region are documenting encounters and seeking legal advice on how to respond while protecting crews and cargo. Shipping lines, charterers and insurers are monitoring for guidance from flag states, port authorities and international maritime organizations.