Toll in Hormuz Strait...Impact on Global Oil Transport

Iran has decided to impose toll charges on ships passing through the strategically important Hormuz Strait, a key route for global oil transportation. The proposal has been approved by Iran’s parliamentary security committee, giving a green signal to the Hormuz management plan. This move allows Iran to officially collect tolls from vessels using the route.

As per the plan, a maximum toll of up to ₹18.90 crore will be charged on each oil tanker. The development was reported by Iran’s state media IRIB. This decision is likely to have a significant impact on global oil supply chains and transportation costs.