Iran plans to levy a transit toll on all oil tankers passing through the Strait of Hormuz during a two-week ceasefire, with payments to be made in cryptocurrency, according to reports. Hamid Hosseini, spokesperson for Iran's Oil, Gas and Petrochemical Products Exporters' Union, told the Financial Times that Tehran intends to charge $1 per barrel on every tanker transiting the strategic waterway. He said Iranian authorities would also conduct individual inspections of vessels to monitor cargo movements during the ceasefire and ensure the strait is not used for transporting weapons. Under the proposed system, tankers seeking passage will be required to email Iranian authorities with full details of their cargo. Once inspections are completed, ships will be informed of the payable toll, calculated in cryptocurrency.