Hormuz power play: Iran's proposed 7% shipping toll could unlock $100 billion a year

Business Today ^ | August 6, 2026 | https://www.businesstoday.in/world/story/hormuz-power-play-irans-proposed-7-shipping-toll-could-unlo

[MinorityRepublican]

According to various reports, Iran is pushing for a transit fee of between 5% and 7% of the cargo's value, while Oman has reportedly proposed a lower 3% toll.

The Strait of Hormuz has long been one of the world's most strategically sensitive maritime chokepoints. Now, reports suggest Iran wants to transform it into one of the planet's most lucrative revenue streams by charging commercial vessels a transit fee worth up to 7% of the value of their cargo — a move that could reshape global shipping economics and intensify geopolitical tensions in West Asia.

According to a Reuters report, Iran and Oman are discussing an agreement that would give Tehran greater control over shipping traffic entering and exiting the Gulf. Under the proposal, vessels would pass through Iranian territorial waters on both inbound and outbound journeys, potentially allowing Tehran to collect transit charges.

Iranian Deputy Foreign Minister Kazem Gharibabadi told Iran's IRNA news agency that ships would navigate through Iranian territorial waters in both directions. He also said Tehran had received indications that the United States was prepared to return to understandings outlined in the Memorandum of Understanding (MoU) signed in June.

[GOPJ]

Good points.

[montag813]

Move oil to the Red Sea via Saudi pipelines. Build more pipelines. Napalm any Houthi who even shows his retarded face on any beach. Sideline Iran and their power dissapates.

[whitney69]

“It’s interesting that Iran and the U.S. are the only major countries in the world that have NOT ratified UNCLOS.”

Actually, there were a lot more:

United States (participated in drafting but refused to sign due to seabed mining rules)

Turkey (voted against it due to maritime boundary disputes in the Aegean Sea)

Israel (voted against it due to political and security concerns)

Venezuela (voted against it due to maritime boundary and island disputes)

Eritrea (refuses to sign or allow fiber optic cable access in its waters)

Andorra (landlocked)

San Marino (landlocked)

Holy See (Vatican City - observer state)

SyriaKazakhstan (landlocked)

Kyrgyzstan (landlocked)

Tajikistan (landlocked)

Turkmenistan (landlocked)

Uzbekistan (landlocked)

South Sudan (landlocked)

Peru (though it signed the final act, it did not sign the actual convention

But you only hear from the media what they want you to.

wy69

[Alberta's Child]

I said MAJOR countries. I’m not sure how many of those would qualify, other than maybe Turkey and Venezuela.

Turkey has the same reason to oppose it as Iran does — even more so.

[whitney69]

A number of those countries are quite large but don’t get much ink. An example is Kyrgyzstan that I just tossed at which in size is the 85th largest country in the world. Other majors not mentioned often on the list can include South Sudan and Peru. But each of those are good size and are voting members of the UN that were against the issue and didn’t ratify. So there’s a dozen to start.

wy69