Renminbi and stablecoins become the 'toll currencies' for the Strait of Hormuz The Islamic Revolutionary Guard Corps (IRGC) has established a comprehensive toll system in the Strait of Hormuz, the global oil lifeline. ️ Passage Rules (Pay + Political Screening) 1. Find an agent: Shipowners must first contact intermediary companies affiliated with the Revolutionary Guard. 2. Submit everything: Provide full details including ship registration, cargo manifest, crew list, and location signals. 3. Political screening: The Guard strictly checks whether the ship has any ties to the U.S. or Israel—if yes, passage is outright denied. 4. Play by the rules: Iran ranks global countries on a 1-5 friendship scale—the better the relationship, the lower the toll rate. Fee Details (De-dollarization) Pricing: Tankers start at $1 per barrel. Payment: U.S. dollars are not accepted—only Renminbi or stablecoins (cryptocurrency) are allowed for settlement. Passage: After payment, ships receive a unique passage code and are escorted by the Iranian Navy through designated safe corridors. This is not just a tough geopolitical stance but a direct bypass of SWIFT and a financial challenge to U.S. dollar dominance. Approximately 20% of global oil transportation is now subject to these new rules.