Iran Eyes $15B From Hormuz Transit Fees Paid in Local Currency
Tehran is floating a plan to settle Hormuz transit payments in its own currency, a move Iranian officials say could bolster the rial and unlock as much as $15 billion a year in revenue. / Reuters
Friday April 17, 2026
Tehran is floating a plan to settle Hormuz transit payments in its own currency, a move Iranian officials say could bolster the rial and unlock as much as $15 billion a year in revenue. / Reuters
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A proposed bill to formalise Iran’s sovereignty over the Strait of Hormuz is being framed in Tehran as more than a territorial assertion: it is also intended to give the rial a stronger foothold in regional financial dealings, according to Iran’s semi-official ISNA news agency.
Ahmad Naderi, a member of parliament’s presiding board, said the initiative would require maritime transit-related payments to be made in rial, presenting the idea as part of a broader effort to expand the currency’s use in trade across the region.
He said the annual income from overseeing and regulating shipping in the strategically vital waterway would likely fall between $10 billion and $15 billion, and argued that some higher estimates now circulating are “exaggerated” and do not reflect conditions on the ground.
Naderi, who represents Tehran in parliament, also warned against what he called “emotional and unrealistic” depictions of potential Hormuz revenues, saying such claims risk feeding economic and social pressure campaigns he blamed on Iran’s adversaries.
Shipping through the Strait of Hormuz has been badly disrupted since the US-Israeli war against Iran began on February 28, and the situation worsened after Washington announced a naval blockade following the collapse of recent talks with Tehran in Islamabad.
About 20 percent of the world’s oil supply moves through the strait each day, and the mounting insecurity has driven up oil prices along with shipping and insurance costs.