Iran has implemented a new toll system for ultra-large oil tankers passing through the Strait of Hormuz, requiring payments in RMB or USD-stablecoins, effectively bypassing the U.S. dollar system. This move, confirmed by Deputy Foreign Minister Gharibabadi, aims to challenge U.S. dollar hegemony and has been operational since March. The tolls, managed by the Islamic Revolutionary Guard Corps, are part of a broader strategy to leverage Iran's control over the strait, which handles 21% of global crude oil shipping.The toll structure is tiered based on geopolitical affiliations, with fees ranging from $0.50 to $1.50 per barrel. Countries like China and Russia benefit from lower rates, while the U.S. and its allies face prohibitive restrictions. This system, backed by the "Hormuz Strait Transit Management Act," has significant implications for marine insurance and trade finance, as payments to the IRGC could trigger sanctions compliance risks. The move mirrors similar strategies by Russia and highlights a shift in global energy trade payment infrastructures.