Iran Tightens Hormuz Passage Controls for 2 Million-Barrel Tanker as Some Ships Face $150,000 Fees
Updated
Updated · Reuters · May 20
Iran Tightens Hormuz Passage Controls for 2 Million-Barrel Tanker as Some Ships Face $150,000 Fees
2 articles · Updated · Reuters · May 20
Agios Fanourios I, carrying 2 million barrels of Iraqi crude to Vietnam, cleared the Strait of Hormuz only after an Iraq-brokered deal with Iran, then was stopped by IRGC speedboats and released hours later.
Iran has built a multi-tiered clearance system for Hormuz traffic that uses government-to-government deals, IRGC vetting and designated routes, with some captains ordered to switch off transponders and satellite communications.
Two European shipping sources said vessels outside such deals are paying more than $150,000 for safe passage, despite U.S. warnings that payments or guarantees from Iran could trigger sanctions and void insurance.
The system underscores Iran's de facto grip on a chokepoint that carries about one-fifth of global oil supply: fewer than 60 ships crossed between April 18 and May 6, versus 120 to 140 a day before the war.
After leaving Iranian waters, the tanker was held for six days by the U.S. Navy blockade and released on May 16, highlighting how shippers now face scrutiny from both sides of the conflict.
With dueling blockades crippling global oil supply, who will blink first in the US-Iran standoff at Hormuz?
As Iran normalizes control over the world's oil artery, what is the ultimate price of passage for the global economy?
Is Iran’s crypto-funded ‘toll booth’ at the Strait of Hormuz a blueprint for future economic warfare at sea?
Strait of Hormuz Tolls: Iran’s $2 Million Per Tanker Fee Triggers Global Energy Shock and Maritime Law Crisis
Overview
In May 2026, Iran officially imposed tolls on vessels passing through the Strait of Hormuz, following months of consideration. This move immediately escalated tensions and caused a sharp drop in shipping traffic, as high risks and uncertainty deterred maritime activity. The reduced flow through this vital chokepoint led to significant disruptions in global energy markets, with oil prices rising and concerns about supply security growing. The situation exposed the limited capacity of U.S. naval forces to protect shipping and highlighted the vulnerability of global trade to geopolitical actions in critical waterways.