Shipping companies paying crypto tolls to pass through the Strait of Hormuz could face significant sanctions exposure.

According to Chainalysis, such payments could leave maritime operators exposed to enforcement action, fines and reputational damage, as Iran remains subject to broad US and international sanctions.

The Islamic Revolutionary Guard Corps, or IRGC, is reportedly extracting fees starting at US$1 per barrel of oil from vessels seeking safe passage.

These payments reportedly involve IRGC-linked intermediaries, with fees negotiated in yuan, stablecoins or other digital currencies.

Chainalysis noted that transacting with sanctioned entities typically…