Iran's Hormuz 'toll booth' set to hardwire higher energy prices
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Iran has established a controlled route through the Strait of Hormuz, with some ships paying a toll to use the corridor. The move has raised concerns about the legality of charging fees for transit passage, with international law guaranteeing the right to navigate through straits like Hormuz.
Iran's Revolutionary Guard Corps is controlling the Strait of Hormuz, a crucial trade waterway. A handful of vessels are crossing daily, with some taking a new Iranian-approved route. At least one ship paid $2 million to use the corridor. The IRGC has established a registration system for approved ships. Governments from countries like India, Pakistan, and China have discussed vessel transits with Tehran. The move has raised concerns about the legality of charging fees for transit passage.
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