Iran is drafting law to introduce tolls for Hormuz transit: Report

Iran has begun charging some commercial vessels up to $2M for safe passage through Hormuz Strait.

The Iranian parliament is working on a draft bill that would impose a fee on vessels seeking safe passage through the Strait of Hormuz, according to the semi-official Fars news agency.

Fars, citing an unnamed lawmaker, said the plan would be finalized next week, and would legally recognize Iran’s oversight of Hormuz, a vital conduit which connects some of the world’s largest oil and gas producers in the Persian Gulf with the wider world.

Since the start of the war, only a limited number of ships have been able to pass through the strait in recent weeks.

According to sources cited by Bloomberg, Iran has begun charging some commercial vessels up to $2 million for safe passage through the strait.