In a dramatic escalation of tensions in West Asia, Iran has begun charging select vessels up to $2 million (around Rs 18.8 crore) to pass through the strategically crucial Strait of Hormuz, raising alarm across global shipping and energy markets.
Iran Announces New Transit Fee
The decision was confirmed by Iranian lawmaker Alaeddin Boroujerdi, who described the move as part of a new sovereign control mechanism over the waterway. He stated that the fee reflects Iran’s growing strength and is necessary to cover the costs arising from ongoing conflict conditions.
Vital Global Oil Route Under Pressure
The Strait of Hormuz is one of the world’s most important maritime routes, handling nearly 20% of global oil shipments. Any disruption in this narrow passage can send shockwaves across international energy markets. Recent tensions and attacks in the region have already slowed tanker movement, pushing fears of a supply crisis.
War of Words Between US and Iran
The development comes amid rising hostility between United States and Iran. US President Donald Trump recently issued a stern warning, saying Washington could target Iran’s power infrastructure if the strait is not fully opened within 48 hours. He even threatened that key power plants could be destroyed if restrictions continue.
Iran Responds With Strong Warning
Reacting sharply, Iran’s President Masoud Pezeshkian stated that the strait remains open to all nations except those considered hostile. He warned that any aggression against Iran would be met with a firm response and said external threats would only strengthen the country’s unity.
Threat of Complete Shutdown
Iran has also hinted at the possibility of completely shutting down the Strait of Hormuz if tensions escalate further. While Tehran claims that neutral countries can still pass safely, ongoing security concerns have already brought shipping activity close to a standstill.
Global Impact Likely
Experts believe this move could significantly impact oil prices and global trade if the situation worsens. By leveraging its geographical control over the strait, Iran appears to be using both economic and strategic pressure in its standoff with the US and its allies.
