Iran appears to be pushing for a 7% fee on all commercial ships transiting the Strait of Hormuz. However, the fee appears to exclude ships of Chinese and Russian interests, highlighting the differential treatment of countries with close ties to Tehran.
At the same time, Oman is in talks to impose a significantly lower fee of 3% as an alternative approach to allowing commercial ships to pass through the strategic sea passage.
However, this is another defeat for the US, which argues that there should be no fee on commercial ships transiting the Strait of Hormuz, maintaining its position that freedom of navigation should not be subject to financial burdens.
Revenue of $385 million per day
Iran’s imposition of a 7% fee on all commercial ships passing through the Strait of Hormuz could net Tehran $385 million per day, or more than $100 billion per year, if trade returns to pre-war levels.
Most of its crude oil exports are transported by Very Large Crude Carrier (VLCC) tankers. With a maximum capacity of about 2 million barrels, a 7% fee would earn Iran about $11 million from the passage of a single tanker.
Profit margin of almost 97%
Since toll collection involves minimal operating costs, it is estimated that about 97% of the revenue would be converted into net profit.
Based on this estimate, the net annual profits from the Strait of Hormuz transit fee would be comparable to those of the world’s largest publicly traded companies, such as Alphabet, Nvidia, Apple, Microsoft and Saudi Aramco, while corresponding to approximately 15 to 20 times the highest annual revenue ever recorded by the Suez Canal from transit fees.
More than a third of Iran’s GDP
For Iran itself, revenues exceeding $100 billion a year would correspond to more than a third of the country’s GDP, without requiring the production or export of a single additional barrel of oil.
Iran, however, denies information that the agreement between Oman and Iran has been finalized, emphasizing that even if it is completed, the issue of reopening the Strait of Hormuz is a separate issue and depends on specific US commitments.
Tehran has set five basic conditions for Washington. Tehran’s five demands. Specifically, Iran asks the US to:
- Lift the naval blockade.
- Lift sanctions on Iranian oil, petrochemicals and natural gas exports.
- Release all of Iran’s frozen funds abroad.
- End the war in Lebanon.
- Recognize Iran’s right to collect transit fees from any ship passing through the Strait of Hormuz.
Tehran’ Revenge
Tehran claims that once the US implements the above commitments, the Strait of Hormuz will reopen, but under full Iranian sovereign control.
This position reinforces the Iranian narrative that the security and operation of the strategically important sea corridor is a matter of national sovereignty.
At the same time, Iran accuses the US of violating the original Islamabad memorandum, claiming that it disrupted established navigation in the Strait of Hormuz through military attacks, the imposition of a naval blockade and the prevention of Tehran’s access to its frozen financial assets.
