BREAKING: Iran Collects First Revenue From Controversial Strait of Hormuz Shipping Tolls Amid Escalating Tensions

According to Al-Jazeera, Iran has collected its first revenue from tolls imposed on vessels transiting the strategic Strait of Hormuz, a senior lawmaker announced Thursday.

Hamidreza Haji-Babaei, deputy speaker of Iran’s parliament, stated that the initial payments were deposited into the Central Bank of Iran’s account, according to the semi-official Tasnim news agency.

“The first revenue received from the Strait of Hormuz tolls was deposited into the Central Bank account,” Haji-Babaei said.

The announcement comes as Iran asserts greater control over the narrow waterway — through which about one-fifth of global oil trade normally passes — amid ongoing conflict with the United States and Israel.

Tehran reportedly began enforcing a “toll booth” system managed by the Islamic Revolutionary Guard Corps (IRGC), requiring vessels to obtain clearance, submit documentation, and pay fees for safe escorted passage, often routed closer to Iranian waters.

Reports suggest tolls can reach up to $2 million per vessel, with some payments reportedly made in Chinese yuan or other non-dollar currencies.

Iranian officials have projected potential annual revenues in the tens of billions if traffic resumes at scale, though current volumes remain far below pre-crisis levels due to the US naval blockade of Iranian ports and disrupted shipping.

The move has sparked international controversy. Critics, including the International Maritime Organization and Western governments, argue that unilateral tolls on the Strait of Hormuz violate international maritime law and freedom of navigation principles under the UN Convention on the Law of the Sea.

Iran maintains it has the right to charge for security and reconstruction costs following US-Israeli strikes.

Some ships from non-hostile nations, including Chinese, Greek, and others, have reportedly paid to transit, while many tanker operators have been advised against compliance. Oil prices rose nearly 4% on Thursday amid the news and stalled ceasefire efforts.