Iran’s IRGC Turns Strait of Hormuz Into a $2 Million Toll Road for Global Tanker Traffic

TLDR: Iran’s IRGC charges up to $2M per tanker transit, accepting cash, crypto, or barter as payment. Between March 1–15, roughly 89–90 vessels cleared the strait under some form of IRGC approval. Total transit costs now exceed what moving an entire fleet through Hormuz cost six months ago. Sanctioning paying operators risks halting the only [...]

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