Iran nears shipping management deal with Oman for the Strait of Hormuz, with crypto tolls on the table

Iran says it’s close to finalizing a deal with Oman to manage commercial shipping through the Strait of Hormuz, the narrow waterway that handles roughly 20 million barrels of oil per day. That’s about 20% of global oil supply passing through a corridor narrower than the English Channel. An earlier draft protocol from April 2026 proposed toll payments denominated in crypto or yuan, which would mark one of the first times a major global trade chokepoint formally integrated digital assets into its payment infrastructure. What the deal actually looks like Negotiations kicked off in late July 2026, with Oman proposing a 50-50 split of transit lanes. Oman’s model drew inspiration from the Strait of Malacca, where Singapore, Malaysia, and Indonesia share oversight and collect voluntary management fees from vessels. Iranian Deputy Foreign Minister Kazem Gharibabadi rejected Oman’s proposal around July 28-29, calling it insufficient for Iran’s security needs. Iran’s counter-proposal is notably more aggressive: full control over one complete shipping lane and partial oversight of the opposite lane. Oman’s approach has backing from other Gulf states, which prefer joint regional oversight with...