How Iran picks who gets through its Strait of Hormuz toll booth - and what they pay
Iran has imposed a toll booth system for vessels passing through the Strait of Hormuz, with nearly 2,000 vessels stranded. The move is in response to the US-Israel war and has caused a significant energy crisis, with experts warning of a looming global recession.
Iran has asserted control of the Strait of Hormuz, a vital oil passageway. The country has imposed a toll booth system, with some vessels being charged $2 million to pass through. Nearly 2,000 vessels are stranded, causing a significant energy crisis. The Strait of Hormuz is a critical maritime route, with about 20% of global oil and gas supplies passing through it. Iran's move is in response to the US-Israel war. The toll booth system has been imposed by the Islamic Revolutionary Guard Corps, with Iran demanding international recognition of its right to exercise authority over the strait.
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