Reports indicate that Iran is collecting transit fees from some vessels passing through the Strait of Hormuz, one of the world’s most important shipping routes for oil and gas exports. According to multiple media reports, ships may be required to pay between $1.5 million and $2 million per transit, depending on the type of vessel and cargo.
The reported payment system allows for several methods of settlement, including cash, goods, Chinese yuan, and even cryptocurrencies such as Bitcoin and stablecoins. Some reports suggest that fees are linked to cargo volumes, with large oil tankers potentially paying around $1 per barrel transported through the strategic waterway.
Iran has also established a body known as the Persian Gulf Strait Authority (PGSA) to oversee transit applications and fee collection. The authority reportedly requires vessels to submit cargo and ownership information before receiving permission to pass through the strait.
The move has sparked international debate, with critics arguing that charging transit fees could disrupt global shipping and energy markets. The Strait of Hormuz handles a significant share of the world’s oil trade, making any restrictions or additional costs a major concern for governments, shipping companies, and energy consumers worldwide.
