Iran is reportedly preparing a new system to charge oil tankers passing through the Strait of Hormuz a transit fee of approximately 1 U.S. dollar per barrel. According to Bloomberg, citing multiple sources, this could translate into roughly 2 million dollars per voyage for a typical very large crude carrier (VLCC), which can carry around 2 million barrels of oil.
How Will Iran’s Toll System Work?
The proposed system requires shipping companies to coordinate with a brokerage firm linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). Operators must submit detailed documentation, including ownership structures, cargo manifests, destinations, crew lists, and automatic identification system (AIS) data.
These documents are then reviewed by the IRGC Navy command in Hormozgan Province. Authorities assess whether the vessel has ties to countries Iran considers hostile, such as the United States or Israel. Only after passing this screening can negotiations over toll payments begin.
What Determines the Toll and Payment Method?
Iran has reportedly categorized countries into five tiers, offering more favorable conditions to vessels from friendly nations. The base rate is around 1 dollar per barrel, payable in Chinese yuan or stablecoins—digital currencies pegged to fiat currencies like the U.S. dollar.
For a standard VLCC, this pricing structure results in an estimated toll of about 2 million dollars per ship. Once payment is completed, vessels receive a permit code and navigation instructions for safe passage.
How Are Ships Guided Through the Strait?
Ships approaching the Strait of Hormuz are required to transmit their permit code via very high frequency (VHF) radio. They are then escorted by patrol boats along designated coastal routes between islands—an arrangement reportedly referred to in the industry as the “Iranian tollgate.”
Sources indicate that Iran may already be implementing elements of this system, offering preferential treatment to friendly nations while issuing threats toward vessels linked to adversarial countries.
Why Is the Strait of Hormuz So Critical?
The Strait of Hormuz is one of the world’s most strategic energy chokepoints, handling about 20% of global seaborne oil and liquefied natural gas (LNG) shipments. Daily flows reach roughly 20 million barrels of crude oil and petroleum products.
Bloomberg warns that payments to the IRGC—an entity sanctioned by the United States, European Union, and United Kingdom—could expose companies to legal risks, including violations of sanctions and anti-money laundering regulations.
What Is the International Response, Including Trump’s Position?
In response to rising tensions, U.S. President Donald Trump stated that countries reliant on oil imports through the Strait of Hormuz should take direct action to secure the route. He argued that the strait would reopen naturally after the conflict ends but emphasized that nations should either purchase American oil or jointly protect the passage.
Trump also criticized countries that declined to participate in operations against Iran, urging them to play a more active role in ensuring maritime security in the region.