Bloomberg: Iran charges up to $2 million for safe passage through Strait of Hormuz

Iran has begun charging some commercial vessels a fee for safe passage through the Strait of Hormuz.

The amount was reported to Bloomberg sources.

Some ships pay up to $2 million per voyage to traverse the strategic waterway. The fees are levied on a case-by-case basis and are informal in nature.

Sources note that the mechanism for such transit payments remains unclear. The practice is unsystematic, leaving shippers without certainty.