Iran’s shakedown in the strait

Iran is seeking to tighten its grip on the Strait of Hormuz — not by closing it, but by reopening it on its own terms and forcing countries to pay for passage.

Multiple reports — first from the maritime news outlet Lloyd’s List, then Bloomberg — now confirm that the colloquially named “Tehran Toll Booth” is open for business. How it works is simple: Iran offers passage through its territorial waters in the strait in exchange for payment as high as $2 million. It’s a shakedown, and tankers are happy to pay.

Traffic through the Tehran Toll Booth is growing steadily, with at least 20 ships transiting the corridor as of March 23. It accounts for anywhere between 10% and 20% of all traffic through the strait since the start of the war — and the Iranian parliament is now moving to formalize its operations with permanent taxes and fees. What’s more, the impact of Iran’s effective control over this corridor is only exacerbated