The Wall Street Journal has reported that the Islamic Republic of Iran is now collecting transit tolls from oil tankers passing through the Strait of Hormuz. Iran has demanded a payment of one dollar for every barrel of oil transported.
According to the report, the Iranian government is requesting these payments exclusively in cryptocurrencies to effectively bypass international tracing and economic sanctions. This bold move highlights the rapid expansion of the digital currency market within the sanctioned nation.
Financial tracking firms state that proxy groups frequently use these digital funds to purchase weapons and supplies. Furthermore, the Central Bank of Iran has reportedly purchased hundreds of millions of dollars in Tether cryptocurrency to strengthen its isolated financial network.
#Iran #Economy #Oil #MiddleEast
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