Iran Drafts Law to Formalize Tolls on Strait of Hormuz

IRGC clearance, hefty transit toll: Why crossing Strait of Hormuz is not so straight

Iran's decision to block the Strait of Hormuz amid the ongoing attacks involving the United States and Israel has created widespread panic across global markets. The move has intensified the energy crisis in several countries as this maritime route connects the oil-rich Persian Gulf to the rest of the world. Nearly 20 to 25 per cent of the world's oil and LNG supply, amounting to more than 20 to 21 million barrels each day, passes through this n…

Iran Hormuz 'Toll Booth': Legally Risky Route For Shippers

A fifth of the world's oil and liquefied natural gas passed through the strait in peacetime -- before the United States and Israel launched strikes on Iran on February 28, prompting it to retaliate across the region. Maritime trackers indicate that a handful of vessels are still crossing daily through the strait, which is guarded by Iran's Revolutionary Guard Corps (IRGC) -- most of them leaving the Gulf.

Iran Drafts Law to Impose Tolls for Transiting Strait of Hormuz

The Iranian parliament is working on a draft bill to charge a fee in exchange for providing security to ships passing through the Strait of Hormuz, according to the semi-official Fars news agency.

Trump wrote the tariff playbook. Now Iran is using it on the world's most important oil route

Iran’s supreme leader is dead. Much of its military infrastructure is destroyed. Its allies are alienated. But the war against Israel and the U.S. has given Tehran something it might not have otherwise appreciated: the unprecedented leverage it holds over the Strait of Hormuz. Now, Iran is trying to milk it. The Islamic Revolutionary Guard Corps (IRGC), the hardline military force that has consolidated power within what remains of the Iranian re…

Is Iran cashing in millions from Strait of Hormuz blockade?

An Iranian lawmaker claims Tehran is quietly charging tankers up to $2 million for safe passage through the Strait of Hormuz. The move threatens to turn the key waterway into a high-stakes toll booth.