The Hormuz Tax: The Iranian demand that threatens to shake global trade
The plan being developed between Iran and Oman will allow Tehran to intervene in ship traffic and collect a toll for passage. Shipping companies warn that a transit fee could create a precedent that would undermine the rules of freedom of navigation in international straits.
A proposal to regulate traffic in the Strait of Hormuz, which would grant Iran extensive powers over ships entering the Persian Gulf, is sparking sharp opposition in the shipping industry.
Four industry sources told Reuters today, Thursday, that the plan being developed between Iran and Oman is not practical in its current format, partly due to US sanctions and insurance restrictions on payments to Tehran.
A senior Iranian official involved in the talks stated that Tehran seeks to collect a toll from ships at a rate of 5% to 7% of the value of the cargo they carry. Oman is discussing a fee of about 3%, while Washington demands that passage through the strait remain free of charge.
According to the proposal, Iran would be able to intervene in the movement of ships entering the Gulf, while ships leaving it would pass through the route between Iran and Oman and receive an exit permit from Oman, after notifying Tehran.
Major global shipping associations have warned that charging ships would effectively be a "transit toll in every respect" and could create a precedent that would undermine the rules of freedom of navigation in international straits. In July, the council of the International Maritime Organization determined that the right of passage through the strait should be equal, free, and without tolls.
The main difficulty stems from the sanctions imposed by the US on the "Persian Gulf Strait Authority," the body established by Iran to manage maritime traffic. According to industry sources, payment to the authority could lead to the freezing of assets.
At the same time, a new insurance clause from the Lloyd's Market Association stipulates that a vessel's insurance coverage could be voided if its owner pays a transit fee to Iran.
The Strait of Hormuz is one of the most important energy routes in the world. In 2024, about 20 million barrels of oil passed through it daily, about one-fifth of global oil consumption, as well as about one-fifth of global trade in liquefied natural gas.
Until the outbreak of the war at the end of February, passage through the strait was open to ships without payment, and control over it has since become one of the central points of contention in the negotiations to end the conflict.
