Iran is set to levy a $1 per barrel toll on oil tankers transiting the Strait of Hormuz, a vital waterway for global oil trade. This toll will be implemented during a two-week ceasefire and payments will be required 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 each vessel will undergo inspections to ensure compliance and will need to provide detailed cargo information to Iranian authorities before passage. However, Oman has firmly rejected Iran's proposal for transit fees, emphasizing its commitment to maintaining free navigation through the strait. This strategic waterway, which connects the Persian Gulf with the Gulf of Oman, is recognized as an international passage and has historically not had tolls imposed on vessels. The revenue from the proposed tolls is intended for post-war reconstruction in Iran, addressing damages sustained during ongoing conflicts.