The narrow waterway responsible for roughly 20% of global seaborne oil and LNG trade could soon come with a price tag. Iran and Oman are negotiating a permanent transit fee system for the Strait of Hormuz, a move that would effectively turn one of the world’s most critical shipping lanes into a toll road.
Iran has reportedly been charging fees as high as $2 million per vessel, with some payments already accepted in crypto or yuan. Now both countries want to formalize the arrangement, and the implications stretch well beyond the Persian Gulf.
What’s on the table
The framework centers on a 10-point Iranian proposal that would grant Iran and Oman joint regulatory powers over strait traffic. That includes the ability to veto shipments deemed “hostile.”
The plan calls for preferred passage granted to allied nations, while vessels from sanctioned countries could face restricted access.
