Iran Earns Up to $2 Million Per Vessel Passing Through Hormuz, MP Says

Iran collects between $1.5 million and $2 million for each vessel passing through the strategically vital Strait of Hormuz, according to an Iranian lawmaker. Mohsen Zanganeh, a member of the parliamentary Budget and Planning Committee, stated that these funds are channeled into the state treasury and earmarked for specific government expenses.

The mechanism for these payments is not entirely clear, with reports suggesting that not all transactions are conducted in cash. Some may be settled using Tether, a cryptocurrency pegged to the U.S. dollar, or through barter deals. The Fars News Agency, linked to the Islamic Revolutionary Guard Corps, carried Zanganeh's remarks but did not elaborate on the specifics of these payment methods or the legal framework supporting them.

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Iran receives between $1.5 million and $2 million from each vessel transiting the Strait of Hormuz.

The Strait of Hormuz is a critical global maritime chokepoint, facilitating a substantial portion of the world's oil and gas shipments. The reported revenue underscores the economic significance of controlling or taxing passage through this narrow waterway.

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The payments are deposited into the state treasury and allocated to designated government expenditures.