Iran collects first Strait of Hormuz ship tolls amid US blockade

Iran has officially collected its revenue from toll that the country imposed on ships passing through the Strait of Hormuz, one the key shipping routes in the Gulf region.

The deputy speaker of the Iranian parliament made this announcement about receiving the first tolls.

“First revenues from transit fees in the Strait of Hormuz have been deposited into the Central Bank account,” he said in comments carried by the semi-official Tasnim News Agency.

However, the deputy speaker did not reveal how much they receive in shipping fees. The toll Iran is charging depends on the number, type and volume of cargo and the level of risk posed by cargo.

Lawmaker Alireza Salimi also validated this news of collecting fees. The announcement comes as the Middle East is reeling from months-long escalating tensions between Iran and the US, keeping the global energy markets at edge and sending oil prices above $100 per barrel.

Earlier on April 8, the Wall Street Journal reported that Tehran is ordering the ships to pay shipping fees in advance with Iran’s Islamic Revolutionary Guard Corps. The payment will be received in cryptocurrency or Chinese Yuan, as per Iranian officials.

In March, the semi-official ISNA news agency also reported that Iran is considering enacting legislation, requiring countries to pay fees for vessels passing through strategically important chokepoints.

Tehran’s legislation would formalise a unilateral arrangement already widely reported by the shipping industry, with payments of as much as US$2 million (S$2.56 million) being sought from vessels as an informal toll, as reported by the Strait Times.

Previously the US President warned that the US will not hesitate targeting ships if they pay Iran to use the Strait of Hormuz.