Iran Formally Imposes $1.5–2 Million Fees on Ships Transiting Strait of Hormuz
Iran has formalized $1.5–2M fees on ships crossing the Strait of Hormuz, carrying 20% of global oil trade, with no new U.S. response after Trump's earlier warning.
Iran has begun systematically charging commercial vessels between $1.5 million and $2 million per passage through the Strait of Hormuz, according to confirmation from Iranian state media outlet Fars News.
The fees are collected under a framework established by Iran’s Supreme National Security Council and the newly created Persian Gulf Strait Authority. Iran describes the charges as payment for “navigation, security, and environmental services,” rather than an official toll. Payments are reportedly accepted in Chinese yuan, cryptocurrency, or other non-dollar currencies.
The practice, which began on an ad-hoc basis during the 2026 U.S.-Iran conflict, has now become more formalized. The Strait of Hormuz carries roughly 20% of global oil and LNG trade.
Trump’s Previous Warning
In April 2026, President Donald Trump directly addressed the reports, posting:
“There are reports that Iran is charging fees to tankers going through the Hormuz Strait. They better not be and, if they are, they better stop now!”
No new U.S. response has been issued following today’s confirmation from Iranian media.
The development raises fresh concerns about freedom of navigation in one of the world’s most critical energy chokepoints and could further impact global energy prices and insurance rates for shipping.