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Iran Charges Ships Up to $2 Million to Transit Strait of Hormuz

Published March 24, 2026, 17:13
Iran Charges Ships Up to $2 Million to Transit Strait of Hormuz

Iran has begun charging fees for certain commercial vessels passing through the Strait of Hormuz, creating an unofficial 'toll' on the critical waterway. The charges reach as high as $2 million per voyage, although the payment mechanism remains unclear. This move highlights Iran's influence over the Strait of Hormuz, through which about a fifth of the world’s oil and gas supply passes. The practice exacerbates insecurity in navigation, especially amid the war in the Middle East. India secured the exit of four liquefied petroleum gas (LPG) carriers from the Persian Gulf via the Strait of Hormuz, reaffirming that international laws guarantee the right to free navigation. However, the situation remains unstable. Iran is considering formalizing the transit fees as part of a broader post-war agreement, while Gulf countries deem it unacceptable to impose fees on a critical trade artery.