Iran has drawn up a plan to impose a transit fee of about $1 per barrel on tankers passing through the Strait of Hormuz, payable in yuan or stablec...
Iran has drawn up a plan to impose a transit fee of about $1 per barrel on tankers passing through the Strait of Hormuz, payable in yuan or stablecoins, Bloomberg reported on the 1st , citing multiple sources.
Earlier, the Iranian parliament National Security Committee approved on the 30th of last month a new management plan to levy tolls on vessels transiting the strait. On that basis, Bloomberg added that more specific operating procedures are coming to light. According to the report, any ship operator wishing to transit the strait must submit to a broker linked to the Islamic Revolutionary Guard Corps details including the vessel ownership structure, cargo specifications, destination, crew list, and Automatic Identification System data. These materials are forwarded to the IRGC Navy Hormozgan Province Command, which examines whether the vessel has links to the United States, Israel, or other countries that Iran designates as adversaries. For vessels that pass the review, toll negotiations then proceed, and Iran has reportedly established a system that classifies countries into grades 1~5, applying more favorable terms to ships from friendly nations. For tankers, the opening offer in negotiations is about $1 per barrel, with payment made in yuan or stablecoins. Given that a very large crude carrier holds about 2 million barrels, the toll could reach up to roughly $2,000,000 . Once the toll is paid, the IRGC issues a transit authorization code and routing guidance, and the ship transits the strait along the designated route. Citing shipping industry and government officials, Bloomberg reported that the IRGC is already collecting tolls from some vessels, offering benefits to friendly ships while threatening attacks against those from adversarial countries. The Strait of Hormuz is a crucial maritime corridor through which about 20% of global seaborne crude oil and liquefied natural gas pass, with around 20 million barrels of crude and petroleum products transported each day.
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