Iran says first Hormuz transit fee revenues credited to Central Bank

Iran has announced that it has begun receiving revenue from newly introduced transit fees on vessels passing through the Strait of Hormuz, with the first payments already credited to the country’s Central Bank.

Deputy Speaker of the Iranian Parliament Hamidreza Haji-Babai, cited by Iranian media, confirmed the development, highlighting the economic and strategic significance of the critical maritime corridor for Tehran. According to him, the inflow of funds marks the initial implementation phase of Iran’s policy to monetise traffic through one of the world’s most vital energy routes.

The move follows an earlier announcement by the Islamic Revolutionary Guard Corps (IRGC), which introduced a $2 million tariff on ships transiting the strait. The measure effectively places a financial charge on passage through the narrow waterway linking the Persian Gulf to global markets.

Haji-Babai underscored that approximately 20% of the world’s oil and 35% of its natural gas supplies pass through the Strait of Hormuz, reinforcing its central role in global energy security. He argued that Iran’s control over the route enhances its leverage and position in the international economic system.

“We control this strait, and the first revenues from the fees for the Strait of Hormuz have been credited to the account of the Central Bank,” he said.

Reiterating the scale of energy flows through the corridor, Haji-Babai added: “Control over the strait means an active role for Iran in the international economy.”

By Tamilla Hasanova