Iran is levying tolls of up to $2 million on several ships transiting the Strait of Hormuz, according to multiple reports.
The Islamic Revolutionary Guard Corps has made the Strait of Hormuz central to the U.S.-Israeli war with Iran, as it has choked off the vital oil shipping waterway for many countries’ tankers. The news of the Guard’s $2 million toll comes as President Donald Trump said he was having “very good and productive conversations” with the Iranian government regarding a resolution to the conflict.
Iranian parliament member Alaeddin Boroujerdi told Iranian media that the concept of Iran collecting a $2 million toll from “some vessels” transiting the strait “reflects Iran’s strength.”
“Now, because war has costs, naturally we must do this and take transit fees from ships passing through the Strait of Hormuz,” Boroujerdi said.
Trump had threatened on Saturday to “obliterate” Iranian power plants if the Guard did not fully open the strait within 48 hours. However, he rolled back this threat on Monday, announcing a five-day suspension of U.S. airstrikes on Iranian power plants during his administration’s peace talks with the country.
“I AM PLEASED TO REPORT THAT THE UNITED STATES OF AMERICA, AND THE COUNTRY OF IRAN, HAVE HAD, OVER THE LAST TWO DAYS, VERY GOOD AND PRODUCTIVE CONVERSATIONS REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN THE MIDDLE EAST,” Trump wrote on Truth Social on Monday.
The Guard’s chokehold on the Strait of Hormuz has heightened concerns across the oil and energy markets, leading to a rise in the global price of oil and increased prices at the pump in the United States. But following Trump’s announcement of peace talks, oil prices dropped around 10% per gallon, according to Business Insider.
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Trump’s first-term Defense Secretary Jim Mattis warned on Monday that if the U.S. were to declare victory in the war now, Iran would still maintain control of the strait and it would levy a toll on every ship transiting the waterway.
“Iran right now, if we declared victory, they would now say they own the strait,” Mattis said. “You’d see a tax for every ship that goes through.”