Importance of Hormuz Strait
The Iran-America war, which has been going on for more than 100 days, now appears to be moving towards peace. In fact, according to Iran’s semi-official Mehr News Agency, there has almost been talk between America and Iran regarding a ceasefire and both the countries have agreed to end the war immediately and permanently. Amidst all this, once again the Strait of Hormuz is at the center of discussion. This narrow sea route connecting the Persian Gulf to the open sea is considered the backbone of the world’s energy supply.
Globally, about 20 percent of sea oil trade passes through this route. Apart from this, a large quantity of LNG also reaches different countries of the world through this route. Among recent developments, reports have emerged that Iran is considering the possibility of imposing transit fees on ships passing through Hormuz. If this happens, it can become a bigger source of income for Iran than oil export.
Discussion of imposing a fee of 1 dollar per barrel
According to reports, Iran is considering a plan to impose a duty of $1 per barrel on oil tankers passing through the Strait of Hormuz. Experts estimate that if this system is fully implemented, Iran could earn an income of 70 to 80 billion dollars every year.
This figure is important because Iran’s oil export earnings have been much less than this. According to available data, Iran had earned about $ 41.1 billion from oil exports in 2023 and $ 46.7 billion in 2024. In such a situation, the potential income from transit fees can even surpass the income from oil exports.
Iran’s oil income increased despite the war
Over the past few years, Iran has maintained its oil exports despite international sanctions and regional tensions. According to recent reports, Iran’s daily oil income reached about $139 million in March 2026, which was $115 million in February.
Interestingly, despite the conflict, Iran’s crude oil exports remain at the level of about 16 lakh barrels per day. Apart from this, the discount on Iranian oil has also reduced in the international market, due to which it has started getting better prices.
How did the Hormuz crisis start?
Tensions escalated when Iran limited shipping traffic in the Strait of Hormuz in response to military attacks by the US and Israel in late February. This move proved to be a major blow to the global energy market as almost one-fifth of the world’s oil and LNG passes through this route.
After the blockage in the Strait of Hormuz, oil prices saw a rise and uncertainty increased in global markets. Thousands of ships got stuck on both sides, affecting international trade.
Increased economic pressure on ships stranded at sea
According to agencies monitoring ships, hundreds of oil tankers and cargo ships got stuck around the Strait of Hormuz during the conflict. These were filled with millions of barrels of oil and petroleum products. Experts say that it is very costly for a ship to remain stuck in the sea for a long time.
Ship owners have to continuously bear crew salaries, insurance premiums, bank loan installments, maintenance and security expenses. Being in a war zone, insurance companies also charge additional risk charges. For this reason, for many shipowners, moving ahead after paying a fee is being considered a cheaper option than remaining stranded at sea for a long time.
Is Iran already recovering?
Some reports claim that since the conflict began, Iran has charged millions of dollars in fees for allowing some ships to pass. It is being told that in some cases this amount reached up to 2 million dollars per ship. Although this has not been officially confirmed, it definitely indicates that Iran is trying to convert its geographical importance into economic opportunity.
What does international law say?
This is where the biggest question arises. Can Iran legally impose tolls on ships passing through the Strait of Hormuz? According to international maritime law, the Strait of Hormuz is a natural international waterway. Ships of all countries have the right to free movement in such waterways. Therefore, no country has the right to collect toll just for passing through the route.
However, fees may be charged for features such as security, navigation, traffic management, environmental protection, rescue services and surveillance. This path is being considered more legally practical for Iran.
How is Hormuz different from the Panama and Suez Canal?
Many people compare Hormuz with the Panama and Suez Canal, but there is a big difference between the two. The Panama Canal and the Suez Canal are man-made waterways. They are constructed, maintained and operated by the respective countries, so tolls are collected from ships passing through them.
Whereas Hormuz is a natural strait. It is not only under the control of Iran but some parts of it are also connected to the maritime borders of Oman and other nearby countries. Therefore, it will not be easy to implement unilateral toll here.
Is an agreement possible with Gulf countries?
Experts believe that in future countries like Iran, Oman, Qatar and United Arab Emirates can together form a regional maritime authority. This organization can provide services like security of ships, surveillance, emergency assistance and environmental protection.
In such a situation, service charges can be collected from the ships, which should be shared among all the concerned countries. However, for this the consent of America, China and other major powers will also be necessary.
There may be a big impact on the global economy
Any change in the Strait of Hormuz will not be limited to the Middle East only. The oil supply of big energy importing countries like India, China, Japan and South Korea is largely dependent on this route.
If permanent fee system is implemented here, the cost of oil transportation may increase. It may also affect the prices of petrol, diesel, gas and other energy products. At the same time, if an agreement is reached and the movement remains smooth then the global energy market can get stability.
