After the two-week ceasefire between the United States, Israel, and Iran was formalized on Tuesday, April 7, the fate of the Strait of Hormuz has become one of the main concerns. What will happen in the coming days in this maritime crossroads? Iran has the answer. The country will implement tolls in cryptocurrencies for tankers crossing the strait, as reported by the Financial Times. Tehran’s goal is to maintain control of this strategic waterway.
Hamid Hosseini, spokesperson for the Iranian Union of Oil, Gas, and Petrochemical Exporters – an organization closely aligned with the Iranian regime – stated that Iran wants to collect tolls from every passing tanker and assess each ship. “Everything can pass, but the process will take time for each vessel, and Iran is not in a hurry,” he added.
#### Context:
The Strait of Hormuz is a crucial waterway for global oil transportation, and tensions in the region can have significant impacts on the oil market.
Maritime Freedom of Navigation at the Heart of Tensions
Hosseini’s comments suggest that Iran will require every tanker to take the northern sea route, closer to its shores, as analyzed by the Financial Times. This could raise questions about the willingness of Western or Gulf state-affiliated ships to take the risk of such transit.
President Donald Trump had stated the previous evening that the ceasefire was conditioned on “the Islamic Republic of Iran’s agreement for the COMPLETE, IMMEDIATE, and SAFE opening of the Strait of Hormuz,” according to a social media post. Meanwhile, Iran aims to maintain its influence over this maritime passage.
About 10 to 15 vessels could pass through the strait each day, as the process is “quite lengthy,” explained Martin Kelly, a council member at the maritime intelligence group EOS Risk. There were 135 ships passing before the war.
#### Fact Check:
The tolls in cryptocurrencies show Iran’s attempt to assert control and potentially generate revenue in a challenging geopolitical environment.
