Why Iran Is Charging $2M to Cross the Strait of Hormuz
With global tensions on the rise, Iran is charging some vessels $2 million to sail through the Strait of Hormuz, which it recently closed after military strikes by the United States and Israel.
Iranian parliament member Alaeddin Boroujerdi described this move as a new approach to monitor the narrow shipping route.
Strait of Hormuz Charges: An Initiative by the Iranian Member of Parliament Alaeddin Boroujerdi
Iran transit fee: Alaeddin Boroujerdi, an Iranian member of parliament, recently proposed a new approach to charging ships passing through the Strait of Hormuz a $2 million transit fee.
As said to Iran International, the main reason behind taking such a stance is that the war has costs, so it was natural to take this step.
He further clarified the measure, which has already begun and reflects the ‘Sovereign regime’ in Iran’s Strait of Hormuz after so many years.
Alaeddin Boroujerdi Reacts To Trump’s 48-Hour Deadline
Alaeddin Boroujerdi news: Reacting to US President Donald Trump’s 48-hour deadline warning to Iran over the Strait of Hormuz, he said, since Israel’s energy infrastructure is within Iran’s reach, it can be destroyed within a day.
Earlier on Sunday, Trump had warned Iran on Truth Social, demanding it reopen the Strait.
His words were "If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!"
Tehran Threatens the US About Attacks on Energy, IT, and Water Systems
Hitting back at the threats from the United States, Iran warned that if any attack were made on its infrastructure, Tehran would not spare any of its energy, information technology, or water systems. The same applies to the Israeli regime in the region.
‘Terror and Threats Make Country United’: Masoud Pezeshkian
Iran’s president, Masoud Pezeshkian, also gave a direct warning to the US and Israel that terror and threats make a country stronger and united.
Based on his post on X, he said, "The illusion of erasing Iran from the map shows desperation against the will of a history-making nation," he said in a post on X.
Further, regarding the Strait of Hormuz, Pezeshkian stated that the waterway is open to all; only those who violate the country’s soil are excluded. He also affirmed that Iran is strong enough to confront any threat.
Iran war latest news: While there are some ships that are returning to India and have managed to pass through, most of the vessels remain stranded in the Strait because of Iran’s retaliation to strikes from the United States and Israel.
Oil Dips Slightly; Brent at $112, Upside Seen
On Monday, there was slight movement in oil as Brent crude futures dipped by 1 per cent to $112.18 per barrel, after hitting its highest level since July 2022 on Friday.
Meanwhile, the US WTI (West Texas Intermediate) was priced at $98.7 per barrel, after surging by 2.27 per cent in the last session.
According to Michael McCarthy, CEO of Moomoo Australia, an online trading platform, the main reasons the oil prices plunged are low liquidity and traders seeking short-term profits.
He further added, "Momentum clearly favours further upside, and a test of the recent highs near $120 is a realistic scenario this week."
IEA Chief Warns of Middle East Crisis
On Monday, Fatih Birol of the International Energy Agency (IEA) warned of a Middle East crisis due to the ongoing war in the Region. He had termed the present situation ‘Severe’ and said it would lead the world to the worst situation in decades.
Addressing the media, he said many can recall the two consecutive oil crises in the 1970s. Each time, the world faced a loss of 5 million barrels per day, for a total of 10 million barrels per day.
In the current situation, we are losing around 11 million barrels per day. It’s like more than two major oil shocks together.”
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Frequently Asked Questions
Find answers to common questions about this topic
Reports say some ships were asked to pay $2 million, but Iran has officially denied it.
It’s linked to the ongoing conflict, with Iran seeking to control the Strait of Hormuz amid heightened tensions.
An Iranian lawmaker said some vessels are being charged as part of a new control system.
No clear official policy—authorities say such claims don’t reflect the government’s official stance.
It is a key global oil route, and any disruption can impact fuel prices worldwide.
