Iran has launched a regulatory agency to charge fees for ships transiting the Strait of Hormuz, the waterway that handles one-fifth of the world's oil and gas. The Persian Gulf Strait Authority, announced this week, could impose charges reaching $2 million per vessel, formalizing Tehran's attempt to monetize control over the critical waterway.

The proposal violates international maritime law, which prohibits countries from charging for safe passage through straits. The International Maritime Organization has rejected mandatory tolls, with chief Arsenio Dominguez warning the plan "goes beyond the freedom of navigation." President Trump stated the U.S. would not condone any toll system, calling the waterway "international."

The practical obstacles are significant. About 1,500 ships and 20,000 seafarers remain stranded in the Persian Gulf. U.S. Treasury warnings this month explicitly prohibit payments to Iran, and Western insurers would likely void coverage for ships that comply. While some Chinese and UAE-linked shadow fleet operators are paying, most shippers refuse to engage. Iran's own oil storage facilities at Kharg Island are more than 80% full, limiting its leverage.

The broader risk is contagion. Analysts warn that undermining freedom of navigation at Hormuz could embolden other countries to demand tolls at strategic chokepoints like the Strait of Malacca, potentially restructuring global trade routes.