Iran threatens to ‘completely’ close Strait of Hormuz
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There are several ways the United States could attempt to reopen the waterway, all of which carry substantial risks.
Iran has begun charging a USD 2 million transit fee on certain vessels passing through the Strait of Hormuz, asserting control
Strait of Hormuz traffic is near collapse as Iran reportedly charges tankers $2 million in transit fees, prompting President Trump to threaten strikes on Iranian power infrastructure.
Oil and liquefied natural gas tankers moving through the Strait of Hormuz carry around 20% of the world’s supply. But for countries on the Persian Gulf, the waterway is more than just an energy route – it’s a lifeline for more than 100 million people.