Iran is reportedly charging oil and gas tankers up to US$2 million for safe passage through the Strait of Hormuz, according to claims from an Iranian lawmaker and maritime reports. The alleged payments come as Tehran continues to restrict access to the vital shipping route.
The move follows the effective closure of the strait during the ongoing conflict with Israel and the US, which has already driven up global energy prices and disrupted supply chains. At least one tanker is believed to have made such a payment, according to shipping publication Lloyd’s List on March 18.
The accusations add to wider concerns about profiteering during the crisis, with fuel retailers, oil companies, and insurers also facing scrutiny for price increases and rising premiums amid the instability.
This situation is not new, as tensions have been escalating in the Strait of Hormuz since 2019, when multiple international incidents occurred in the vital maritime corridor. Following the US-Israel military strikes on February 28, Iran closed the Strait of Hormuz in response, disrupting global oil flows.
To discover more about the Strait of Hormuz and its importance, click through this gallery.