Iran Confirms Cash Revenue from Strait of Hormuz Transit Fees Amid US Tensions
US-Iran war: Tehran's central bank confirms Strait of Hormuz toll revenue deposited in cash
The Economic Times
Image: The Economic Times
Iran's central bank has confirmed that revenue from new transit fees for vessels in the Strait of Hormuz has been deposited in cash, dispelling earlier claims of cryptocurrency payments. Deputy Parliament Speaker Hamidreza Hajibabaee emphasized Iran's sovereignty over the waterway, warning against US aggression and asserting the necessity of toll payments.
- 01Iran's central bank confirmed cash deposits from Strait of Hormuz transit fees.
- 02The fees are intended for all vessels passing through Iran's territorial waters.
- 03Deputy Speaker Hajibabaee emphasized Iran's sovereignty and control over the Strait.
- 04Iran has seized two vessels for violating its territorial waters.
- 05Approximately 20% of global oil and 35% of gas shipments pass through the Strait.
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Iran's central bank has confirmed that revenue from newly introduced transit fees for vessels passing through the Strait of Hormuz has been successfully deposited in cash, dispelling rumors of cryptocurrency payments. Deputy Parliament Speaker Hamidreza Hajibabaee announced the deposit at a public gathering in Kuhdasht, Iran, asserting that the Strait belongs to the Iranian people and that all ships must pay tolls in Iranian rials. He warned that if the United States continues its aggressive policies, Iran would not permit any ships to pass through the Strait. Hajibabaee also mentioned that Iran has seized two vessels for violating its territorial waters. He highlighted the strategic importance of the Strait, noting that it is a crucial route for 20% of global oil and 35% of gas shipments, reinforcing Iran's significant role in the global economy.
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The collection of transit fees reinforces Iran's economic control over a critical shipping route, potentially affecting global oil and gas prices.
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