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Iran Drafts Strait of Hormuz Tolls Law

Source: bloomberg.com

Iran is drafting a law to charge tolls on ships passing through the Strait of Hormuz, a vital global oil route.
The tolls would generate $1 billion a year from about 20% of world oil trade transiting the strait.
This could raise shipping costs worldwide and heighten tensions with the US and Gulf states opposing the plan.

Iran's parliament is preparing legislation to impose mandatory tolls on all vessels transiting the Strait of Hormuz, the narrow waterway between Iran and Oman that carries roughly 20% of global oil. Lawmakers from Iran's hardline parliament aim to collect fees based on ship size and cargo to fund coastal development. The move targets a key chokepoint for energy exports from Gulf producers like Saudi Arabia and the UAE, potentially disrupting trade flows and escalating regional friction.