Iran Expands Hormuz Control with $2 Million Transit Fees

Iranian lawmakers say Tehran is now charging some tankers up to $2 million to pass through the Strait of Hormuz, a move cited as part of establishing a new sovereign regime in the waterway. Reports describe a de facto safe-passage system demanding fees from vetted vessels, with several countries in talks, amid U.S. warnings. The development underscores the strait’s critical role in global oil and LNG trade and could raise shipping costs and oil-supply concerns as traffic through the chokepoint tightens.