Iran has reportedly introduced a toll system charging approximately $1 per barrel of oil for tankers transiting the Strait of Hormuz, formalizing control over the vital chokepoint that handles 20% of global crude flows. According to sources cited by Bloomberg and Fars News, the policy—approved by Iran's National Security Committee—requires vessels to submit detailed manifests, undergo IRGC background checks, and pay in Chinese yuan or stablecoins rather than U.S. dollars, evading sanctions via non-SWIFT channels. For a typical VLCC carrying 2 million barrels, this equates to $2 million per passage.

The measure escalates post the fragile US-Iran ceasefire, where Tehran pledged to reopen the strait after weeks of blockade during Operation Epic Fury. Ships from "friendly" nations like China receive preferential grading (1-5 scale) and lower fees, while U.S. or Israeli-linked vessels face denial. IRGC-linked brokers coordinate escorts via patrol boats after payment, with routes now funneled through Iranian waters north of Larak Island.

This de facto "tollgate" risks spiking global energy costs, as alternatives like Saudi pipelines or the Cape route add weeks and expenses. Iran's Tasnim News estimates annual revenue exceeding $100 billion—20-25% of GDP—transforming Hormuz from free passage to revenue stream amid sanctions. Early adopters from India, Pakistan, and Greece have complied since mid-March.

Also Read: Iran Mandates Alternate Hormuz Routes Amid Sea Mine Threats Post-Ceasefire

Western powers decry it as a ceasefire violation, exposing payers to sanctions risks for transacting with the IRGC. U.S. officials note President Trump's truce assumed automatic reopening, not managed access. South Korea and Japan, heavy Gulf importers, face acute impacts despite diplomatic hedging.

The policy ties to broader leverage plays, including alternative navigation protocols announced April 8. As Islamabad talks loom, enforcement via GPS jamming and patrols tests compliance, with non-payers risking interdiction.Global markets brace for sustained Brent crude volatility around $97, as the toll compounds supply fears despite truce optimism. This move underscores Iran's strategic geography, potentially funding military rebuilding while challenging freedom of navigation norms.

Also Read: IATA Predicts Months-Long Jet Fuel Crunch After Strait Reopens