Iran says it’s now getting paid for letting ships pass through the Strait of Hormuz. The deputy speaker of parliament told Iran’s Tasnim news agency that the “first revenues” from new tolls on vessels using the strait have been deposited in the country’s central bank, though he offered no details on who paid or how much, and the claim hasn’t been independently verified, per the BBC. Another senior lawmaker said fees vary by cargo type, volume, and “level of risk,” adding, “We determine the rules.” Iran says the funds are needed for reconstruction after weeks of conflict.
The comments follow months of confusion over whether Iran was actually charging ships, after its embassy in India rejected reports of a standard $2 million-per-vessel fee. The Times of London reports tolls are believed to range between $1 million and $2 million. That could include up to $1 per barrel of oil being ferried, adding $20 million in daily costs to the oil market, per the Guardian. Belgian thinktank Bruegel expects Gulf oil producers to shoulder most of the cost, with global oil prices rising anywhere from 5 to 40 cents a barrel above prewar norms.
Ships from Malaysia, China, Egypt, South Korea and India have safely navigated the strait, though it’s unclear if they paid up, per the Guardian. Sanctions from countries including the US and UK prevent them from making payments to the Islamic Revolutionary Guard Corps. Earlier this month, President Trump ordered the US Navy to target vessels in international waters that pay any toll. On Thursday, US forces said they had boarded a sanctioned vessel carrying Iranian oil in the Indian Ocean, the BBC reports.