Iran Reportedly Imposing $2 Million Transit Fees on Select Vessels in Strait of Hormuz

Iran has begun imposing informal transit fees of up to $2 million per voyage on select commercial vessels passing through the Strait of Hormuz as of March 2026, according to industry reports. The charges represent an unprecedented expansion of Tehran's control over the waterway that handles approximately 20% of global oil and LNG traffic.

The fees operate outside established maritime law frameworks, with Iranian authorities requesting payments on a case-by-case basis from specific vessels rather than through published tariff structures. Ship operators have reportedly made payments through cash, cryptocurrency, or barter arrangements to secure passage, particularly following periods of heightened strait restrictions. Iranian Foreign Minister Abbas Araqchi confirmed the strait remains open to vessels from "non-enemy combatant" countries that coordinate with Iranian authorities.

The informal toll system has created additional cost pressures in a region already subject to elevated war-risk insurance premiums, with some operators paying the fees while others face uncertain passage rights. Indian LPG tankers and Chinese-linked vessels have reportedly utilized approved transit routes or made payments to continue operations through the critical chokepoint.

Iranian lawmakers, including Alaeddin Boroujerdi, have characterized the charges as a "cost of war" and assertion of sovereign authority over the waterway. The development adds another layer of complexity to global energy supply chains already navigating geopolitical tensions in the Persian Gulf region.