Allowing Iran to continue to control the crucial waterway is likely to be highly unpalatable to Gulf states including Saudi Arabia, Qatar and the UAE.

The policy would apply to oil tankers seeking passage during a two-week ceasefire between Iran and the United States, announced after a shift in posture from Donald Trump. The arrangement aims to reopen a route that handles a large share of global oil flows while allowing Tehran to maintain control over access.

According to statements attributed to Iranian officials, shipping firms would receive a payment request prior to transit. Once approved, vessels would be given a short window to complete the transaction in bitcoin.

“Iran needs to monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons,” said Hosseini, whose industry association works closely with the state. “Everything can pass through, but the procedure will take time for each vessel, and Iran is not in a rush,” he added.

https://www.zerohedge.com/geopolitical/iran-charge-bitcoin-tolls-strait-hormuz-transit-ceasefire-takes-hold

AND

First Two Ships Pass Through Strait Of Hormuz Since Ceasefire As Iran Demands Payment In Crypto

https://www.zerohedge.com/energy/first-two-ships-pass-through-strait-hormuz-ceasefire

 

A Zerohedge (subscription) article says that there are now 800 ships trapped inside the Strait of Hormuz – https://www.zerohedge.com/markets/800-ships-trapped-persian-gulf-are-scrambling-figure-out-if-they-can-leave