Iran chamber official floats possible $70-$80 billion annual income from Hormuz

Yahya Al-e Es’hagh, head of the Iran-Iraq Joint Chamber of Commerce, said Iran could theoretically generate $70 billion to $80 billion a year from the Strait of Hormuz by charging for services provided there.

Speaking to ILNA, he said Iran could “at least” collect a 10% fee under maritime law for services in the strait, which he said covers 20% to 30% of global trade.

The figures were presented as a potential estimate rather than an announced policy.

At least two vessels transiting the Strait of Hormuz paid Iran for safe passage, Lloyd’s List Intelligence reported in March, adding that commercial traffic is increasingly diverting into Iranian territorial waters through what has been dubbed the “Tehran Toll Booth.”