Iran's Central Bank Confirms First Strait of Hormuz Transit Fees Received in Cash Foreign Exchange

Gate News message, April 24 — Iran's Central Bank has confirmed that the first batch of transit fees collected from vessels passing through the Strait of Hormuz has been received in cash foreign exchange form, according to Haji Babaei, Vice Speaker of the Iranian Islamic Parliament. The funds have been deposited into the Central Bank's account.

Earlier reports had suggested Iran would collect the fees in cryptocurrency; however, the Central Bank's confirmation indicates the initial payment was made in conventional foreign currency.