Iran is set to impose a $1-per-barrel toll on oil tankers navigating the Strait of Hormuz, a crucial passage for nearly 20% of the world's oil supply. The fee, payable in cryptocurrency like Bitcoin, is part of Iran's strategy to enhance control over this vital energy corridor amid fragile ceasefire negotiations with the United States. Shipping companies will need to submit cargo details in advance, with Iranian authorities calculating the toll based on the oil volume carried. This move is presented by Iranian officials as a necessary security measure to monitor the strait and prevent weapon transfers during the ceasefire period. The proposed toll and stricter navigation protocols, which may require tankers to follow routes closer to Iran's coastline, have raised concerns internationally. Countries dependent on stable oil supplies fear potential disruptions, while some nations, including India, oppose the toll on what has traditionally been an open international waterway. As negotiations continue, Iran's toll plan adds complexity to the geopolitical landscape, potentially reshaping global energy trade and maritime norms.