Trump Hints at Toll Revenue as Hormuz Strait Reopens Under 2-Week Ceasefire

The Strait of Hormuz is set to reopen after the United States and Iran dramatically came to the negotiating table just one hour and 28 minutes before the final deadline. However, Iranian Foreign Minister Abbas Araghchi said Tehran would "guarantee safe passage for two weeks in cooperation with Iranian forces if attacks on Iran cease," suggesting tolls or escort fees may be charged unlike before the war. With some 2,000 commercial vessels currently stranded near the strait, diplomatic battles are expected to intensify as nations scramble to evacuate their ships first. Axios reported on Wednesday, citing White House officials, that "the two-week ceasefire between the U.S. and Iran will take effect from the moment the Strait of Hormuz opens." President Donald Trump, who had previously stated the condition was "Iran's agreement to a complete, immediate, and safe opening of the Strait of Hormuz," posted on Truth Social Thursday that "there will be a lot of positive action in the Strait of Hormuz, and big money will be made," signaling a shift in tone. "Iran will be able to begin the rebuilding process," he said, adding that the U.S. would "help with the traffic jam in the Strait of Hormuz." He emphasized this "could be the beginning of a golden age for the Middle East." Trump's references to "helping clear the traffic jam" and "big money" have led to speculation that he may be willing to accept toll collection. His statement that "Iran will be able to begin the rebuilding process" is also being interpreted as suggesting toll revenues could fund Iran's reconstruction. Markets are also noting Trump's remarks at a press conference on the 6th: "How about the United States charging tolls for the Strait of Hormuz? We're the winners." Reports indicate Iran has indeed demanded fees for the two-week transit period. The Associated Press, citing officials involved in negotiations, reported that "the two-week ceasefire plan includes provisions allowing Iran and Oman to charge tolls on ships passing through the Strait of Hormuz." Iran is already collecting transit fees at the strait. The Wall Street Journal reported that "Iranian ships pass freely through the strait, while friendly nations' vessels are paying more than $1 million (approximately 1.48 billion won) in tolls," adding that "about 35 ships owned by Chinese, Greek, Pakistani, and French interests have recently paid fees to cross." Even if two weeks of passage is permitted, the possibility of high tolls or delays between friendly and unfriendly nations cannot be ruled out. The WSJ quoted industry officials saying "the Strait of Hormuz is no longer a choke point but is increasingly becoming a political and controlled corridor." Nations have already begun behind-the-scenes diplomacy. Japanese Prime Minister Sanae Takaichi reportedly held a 25-minute phone call with Iranian President Masoud Pezeshkian on Thursday to discuss the ceasefire agreement and Middle East developments. According to the International Maritime Organization (IMO), more than 2,000 commercial vessels are currently trapped in and around the Strait of Hormuz and the Persian Gulf, with at least 20,000 crew members aboard. Of these, tankers and gas carriers account for about 1,200 ships—more than half—followed by approximately 600 bulk carriers loaded with grain and iron ore, and 200 container ships. Twenty-six Korean vessels are stranded in the Gulf, including nine crude oil tankers, eight petroleum product carriers, five bulk carriers, two LNG/LPG carriers, one container ship, and one car carrier. Setting aside all other conditions, it is expected to take considerable time physically for 2,000 ships to exit the Strait of Hormuz. Before the war broke out, average daily ship traffic through the strait was about 135 vessels. Considering the 20-25 day voyage from the Middle East to Korea, Korean vessels are expected to take at least two months or more to return home. Even if a ceasefire is achieved, Iran is unlikely to relinquish control over the Strait of Hormuz, as it remains Tehran's only and most powerful bargaining chip. The 10-point ceasefire proposal that Iran's Supreme National Security Council presented to the U.S. through Pakistan includes provisions for controlling passage through the strait in cooperation with Iranian forces. The Presidential Office stated regarding the Hormuz opening that it is "closely monitoring specific transit methods and conditions through communication with relevant countries," adding it would "promptly review all matters including ship lists required for transit in close consultation with shipping companies."

Trump Hints at Toll Revenue as Hormuz Strait Reopens Under 2-Week Ceasefire

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