Iran, according to the British publication Lloyd’s List, has established a “secure” maritime corridor for vessels transiting the Strait of Hormuz—access is granted only after obtaining special authorization from Tehran. Sources cited by the outlet say at least one case has already been recorded in which a tanker operator paid $2,000,000 for passage.
Governments of several countries—including India, Pakistan, Iraq, Malaysia, and China—are reportedly negotiating with Tehran over transit arrangements. According to Lloyd’s List, the Islamic Revolutionary Guard Corps is setting up a registration system for “approved” vessels that would be guaranteed safe passage through the strait.
At least nine vessels have already used this route. Whether they paid for passage remains unclear. Approved ships transit through Iranian territorial waters near Larak Island, where the IRGC conducts their identification.
For now, decisions are made on a case-by-case basis; however, the publication reports that the IRGC intends to formalize the procedure in the coming days.
Following the start of US and Israeli strikes on Iran, Tehran effectively closed the Strait of Hormuz—a critical route through which roughly a quarter of global oil supplies pass. This triggered a sharp surge in commodity prices.