$2 Million Per Ship For Hormuz Passage — What Iran's 10-Point Counterplan For Truce Says
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Iran is charging some tankers $2 million to pass through the Strait of Hormuz, a key global shipping route. The move is part of a new approach to controlling the waterway, with Iran offering vetted tankers passage in exchange for approval and payment.
Iran has started charging some tankers $2 million to pass through the Strait of Hormuz. This move is part of a new approach to controlling the waterway. The strait is a key global shipping route, handling about 20 million barrels of oil per day. Iran's Revolutionary Guard has set up a system to register approved vessels for safe passage. Several governments are in talks with Tehran over ship transit. The closure of the strait has driven up shipping and insurance costs, pushing oil prices higher and raising global economic concerns.
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