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Iran imposes Hormuz toll amid US blockade

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Iran has, for the first time, begun earning revenue from tolls imposed on ships transiting the strategically vital Strait of Hormuz, even as the United States claims its sweeping naval blockade is costing Tehran an estimated $500 million a day.Iranian Parliament Deputy Speaker Hamid Reza Hajibabai said the first tranche of toll revenue had already been credited to the country’s central bank, marking a significant shift in Tehran’s approach to controlling one of the world’s most critical energy chokepoints.“The first revenue received from tolls in the Strait of Hormuz has been transferred to the central bank’s account,” Hajibabai was quoted as saying by the Fars news agency.The move follows approval by Iran’s parliamentary security commission last month of a plan to levy charges on vessels crossing the narrow waterway, through which nearly a fifth of global oil and liquefied natural gas supplies flowed prior to the ongoing conflict.Tehran has since tightened restrictions on maritime passage, allowing transit selectively while prioritising vessels that comply with newly introduced protocols, including payment of fees.Iran has maintained that while the Hormuz corridor remains open, access is effectively restricted for vessels linked to the United States, Israel and their allies. The curbs, coupled with heightened insecurity marked by ship seizures and attacks, have already pushed global energy and commodity prices upward, with analysts warning of sharper disruptions if hostilities persist.

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