Iran Says First Toll Revenue From Strait Of Hormuz Deposited In Central Bank
Iran reports first toll revenue from Strait of Hormuz amid conflict.
Iran has reported receiving its first revenue from tolls imposed on ships passing through the strategically vital Strait of Hormuz, according to a senior parliamentary official. The development marks a significant escalation in Tehran’s efforts to monetise control over one of the world’s most critical maritime trade routes.
Deputy Speaker of Parliament Hamidreza Haji Babaei said the initial toll collections have already been deposited into the country’s central bank account. However, officials have not disclosed the exact amount collected or the number of vessels that paid the fees.
The toll system has been introduced amid ongoing conflict involving Iran, the United States, and Israel, with Tehran tightening its grip over the Strait since hostilities escalated earlier this year. In peacetime, the waterway handles roughly one-fifth of global oil and gas shipments, making any disruption or new charge highly consequential for global trade.
Also Read: Madhya Pradesh Man Beaten, Forced To Drink Urine After Son Elopes With Partner
Iran has allowed only limited maritime traffic through the strait in recent weeks, with ships reportedly facing new conditions for passage, including fees that may vary depending on cargo and risk factors. The move follows earlier discussions within Iran’s parliament about formalising such tolls as part of its wartime strategy.
The decision has raised concerns internationally, as major shipping lanes like the Strait of Hormuz are typically governed by global maritime norms that ensure free passage. Analysts note that imposing tolls could challenge these conventions and potentially trigger further geopolitical and legal disputes.
The development comes at a time of heightened tensions in the Gulf, with competing military and diplomatic efforts underway to secure navigation through the strait. Several countries, including Western powers, have been exploring joint mechanisms to safeguard shipping routes and stabilise energy supplies amid the ongoing crisis.
Also Read: Army Chief Upendra Dwivedi Inducted Into US Army Pacific, Reviews Bilateral Defence Ties
