Iran Plans $1-per-Barrel Transit Toll for Oil Tankers in Strait of Hormuz

Iran is reportedly planning to impose a $1-per-barrel transit toll on oil tankers passing through the Strait of Hormuz, according to NS3.AI. The toll can be paid in Chinese yuan or stablecoins, and ship operators will be required to work through a brokerage firm associated with the Islamic Revolutionary Guard Corps. They must also submit details regarding ownership, cargo, crew, and AIS for screening. Bloomberg highlighted that this toll would equate to approximately $2 million for a Very Large Crude Carrier transporting around 2 million barrels.