Kumar Bahukhandi
A cargo ship sails in the Arabian Gulf towards Strait of Hormuz in United Arab Emirates (AP Photo/Altaf Qadri)
The Strait of Hormuz remains one of the world’s most critical energy corridors, handling a substantial share of global oil and liquefied natural gas shipments
Iran has reportedly begun charging select merchant vessels a transit fee of USD 2 million to pass through the strategically vital Strait of Hormuz, marking a significant escalation in its assertion of control over the key global shipping route.
The claim was made by Iranian lawmaker Alaeddin Boroujerdi, during a television programme cited by state media.
According to the report, Iran has already collected around USD 2 million from some vessels. However, the implementation of such fees could pose serious challenges for global shipping companies, particularly in light of existing international sanctions on Iran.
The Strait of Hormuz remains one of the world’s most critical energy corridors, handling a substantial share of global oil and liquefied natural gas shipments. Since early March, the waterway has faced severe disruptions, with Iran effectively restricting access to many vessels.
The ongoing tensions have significantly increased shipping and insurance costs, driven up global oil prices, and heightened concerns over energy security and economic stability worldwide.
The situation comes amid a broader regional conflict involving Iran, the United States, and Israel, which has led to escalating military exchanges, including missile and drone strikes, and widespread damage to infrastructure across parts of the Middle East.
