The Iran-US-Israel conflict is turning into an economic war as an oil tanker operator reportedly paid Tehran a $2 million fee for safe passage through the Strait of Hormuz. Iran is now charging “favoured” countries millions of dollars per oil tanker for safe passage, even as gasoline prices have crossed $8 a gallon in some US pumps.
The cost of war: Oil companies feel the pinch; Iran mulls Strait of Hormuz transit surcharge
According to Lloyd’s List Intelligence, cited by the Financial Times and other media, at least one tanker operator is understood to have paid around $2 million as part of an agreement to transit via Iran’s newly established “safe corridor” along the Strait of Hormuz. This is a route near Iranian territorial waters around Larak Island, where the IRGC Navy and port authorities are reportedly conducting visual vetting and verification of vessels. Based on recent reports, at least nine vessels have used this corridor, mostly from diplomatically cleared nations such as India, Pakistan and China.
BREAKING: An oil tanker operator paid Iran a $2 million fee for safe passage through the Strait of Hormuz on Wednesday, per FT.
Iran is now charging "favored" countries millions per oil tanker for safe passage through Hormuz.
— The Kobeissi Letter (@KobeissiLetter) March 20, 2026
🚨🇮🇷 Iran has officially monetized the Strait of Hormuz.
$2 million per voyage. Accepted in cash, crypto, or barter.
3,200 ships and 40,000 sailors are waiting on the other side of that price tag.
Source: Al Jazeerapic.twitter.com/olP48abNO2 https://t.co/rEI5lNPGHK
— Mario Nawfal (@MarioNawfal) March 20, 2026