Iran could generate more than $100 billion (approximately 150 trillion won) annually by imposing transit fees on ships passing through the Strait of Hormuz, Iran's Tasnim News Agency estimated on Tuesday.
The outlet presented two scenarios for a "Hormuz toll."
The first involves charging approximately $2 million (about 3 billion won) per vessel as a "special security service" fee. Before the war, an average of 140 ships passed through the Strait of Hormuz per day, which would put annual toll revenue at just over $100 billion, the outlet calculated. That figure represents 20 to 25 percent of Iran's nominal gross domestic product.
The second scenario would set fees based on existing international precedents such as Suez and Panama Canal transit charges, averaging approximately $400,000 (about 600 million won) per vessel. On an annual basis, this would generate $20 billion to $25 billion (approximately 30 trillion to 38 trillion won), the outlet reported.
Iran has not officially begun collecting Strait of Hormuz transit fees, but media reports have cited cases of ships paying approximately $2 million per vessel to pass through the waterway.
Iran's Fars News Agency reported on Sunday that Iran's parliament is refining a draft bill to collect transit fees in exchange for providing safety to ships passing through the Strait of Hormuz, with the final version expected next week. Esmail Baghaei, spokesman for Iran's Ministry of Foreign Affairs, told Indian outlet India Today on Sunday, "Iran will certainly impose fees on other countries and vessels for safe passage through the Strait of Hormuz." He added, "Due to the war situation imposed on Iran, a series of measures for strait passage are being implemented."
Why Even the U.S. Cannot Control the Strait of Hormuz
