The rumors are that Iran has put a huge price tag of 2 million dollars on vessels wishing safe passage through the Strait of Hormuz making it the oil lifeline of the world a substantial price attached. The bombshell occurred when Iranian legislator Alaeddin Boroujerdi bragged on TV about the state receiving this amount of money in the form of some ships to proclaim an alternate sovereign regime over the chokepoint after 47 years. However, is this blanket tax or special shakedown in the US-Iran war? We shall deconstruct the facts, consequences and what is actually going on as of March 23, 2026.
The Strait of Hormuz, which links the Persian Gulf and Gulf of Oman, processes 20 percent of the global oil (21 million barrels per day) and 5th percent of the LNG trade. Since early March, it has been banged shut by most traffic due to US-Israel attacks on Iran causing retaliation thus leaving 50+ tankers stuck in it and Brent crude spiking past 100/barrel. Go through the approved corridor in Iran: a narrow seaside path that circles its coasts by Qeshm and Larak islands, which are guarded by Revolutionary Guards to have a visual inspection. Lloyds List states that one tanker operator paid off close to 2 million dollars to be cleared and nine ships have already paid.
The parliament member in the National Security Committee, Boroujerdi, presented the fee as a war-cost payment and a show of strength: “This will be a sign of power Iran has. It is not a law but yet, parliament considers wider tolls or taxes on the use of energy, food and transit, but the selective charges are active among friends such as India, China, Pakistan, Iraq and Malaysia who liaise directly with Tehran. India got a large score: there were two LPG carriers (Jag Vasant, Pine Gas) that just passed through this route providing a crucial cooking gas following silent diplomacy. It was celebrated in Parliament by PM Modi who said 22 ships were waiting to come in within 72 hours despite the blockade.
Skeptics question the scale. There is no record of official IRIB tariff schedule; “some vessels” were cited by Boroujerdi and tanker companies remain silent in order to avoid reprimand. One of the reports led by Youtube said that a firm paid a safe run after attacks on February 28, yet averages may be lower among allies. Critics refer to it as piracy rebranded – reminiscent of 1980s Tanker War charges – but Tehran believes it is its sovereign right, not the free lane that Oman offers in the southern lane. The rerouting by global shippers to bypass Africa, which takes 10-15 days and costs over $1M per trip in fuel, kills margins.
In the case of India, it is a two-sided sword. The price of LPG soared by 15% and cut 30 crore households off subsidized cylinders; imports of oil meet 85 per cent of requirements. New Delhi increased Argentina shipments twice, tapped 53 lakh MT of strategic stores (10-day buffer) and waived port charges to hurry. However, $2M makes a dent on smaller operators – a month of profit to some. Regarding the Budget Session, Modi called on alertness and unity, dubbing attacks in Hormuz as unacceptable and glorifying Iranian exceptions.
Pulsating effects: OPEC+ production declines do not cool down prices; rupee declines to 88/USD; inflation threat 7%. China, the largest purchaser of Iran, arranges waivers; Europe looks into Russian LNG. Will charges become a Hormuz “Suez Canal” model? The proposals to parliament require payments on secure navigation, and according to the lawmaker, Somayeh Rafiei, the power and power are promised.
Bottom line: It is quite true that selectively Iran imposes a fee of about 2M dollars through its corridor on vetted ships, but not a universal fee-yet. Friends sneeze out on the cheap or on the free; enemies pay, or deviate. As war rages, expect hikes. India outwits and yet the world energy teeterpaths. Look at the moves and parliament votes of PM Modi.
