Iran is implementing a toll system for passage through the Strait of Hormuz. Iranian authorities have established an unofficial fee for vessels transiting the strategically important waterway. According to sources, Iran has a one-to-five country classification system, with ships from friendly nations more likely to get better terms. For tankers, the initial negotiation price is usually around $1 per barrel of oil, paid in yuan or stablecoins. After paying the toll, the Islamic Revolutionary Guard Corps (IRGC) issues a permit code and routing instructions. An example is Pakistan being allowed to transit 20 of its vessels, but the country had few ships under its flag in the Gulf. Islamabad began contacting major global commodity traders to see if they had vessels that could temporarily sail under the Pakistani flag. Ships associated with hostile states, such as Israel or the US, may be rejected. As a vessel approaches the strait, it transmits its code via Very High Frequency (VHF) radio and is intercepted by a patrol boat that escorts it through the passage near a group of islands that industry people have already dubbed the 'Iranian toll booth'. The legal basis for Iran imposing tolls is unclear, but the measure is a way to show the success of diplomatic efforts to end the conflict.
