Iran is tightening its control over the Strait of Hormuz by proposing that oil tankers pay transit tolls in cryptocurrency during a fragile two-week ceasefire. Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, stated that every vessel will be monitored to prevent weapon transfers. Tankers must share cargo details via email before being assigned a transit fee, reportedly set at $1 per barrel, with payments made in bitcoin to avoid sanctions. This move has raised concerns among Gulf states and Western allies, who fear Iran's increased oversight over this vital shipping route. Tensions escalated when Iran warned that vessels attempting to transit without permission would be destroyed, causing most shipping companies to halt operations. Currently, 300 to 400 ships are stranded in the Gulf, with only a few linked to Iran attempting passage. The situation complicates efforts to convert the temporary ceasefire into a lasting agreement, as Iran signals that any reopening of the Strait will involve new protocols coordinated with its armed forces. The stakes are high for Gulf powers, as allowing Iran any control over the Strait is seen as a red line, given its significance in global oil flows.