War in the Middle East: Tehran receives its first revenues from the passage rights of Ormuz, according to an Iranian official.

Iran Receives First Revenues from Ormuz Strait Passage Fees

A senior official from the Iranian Parliament announced on Thursday that Tehran had received its first revenues from passage fees imposed in the strategic Ormuz Strait.

The Ormuz Strait, through which usually a fifth of the world’s hydrocarbons pass, has become a major hotspot of tension since the beginning of the war in the Middle East triggered by the Israeli-American attack on Iran on February 28.

Despite a ceasefire in effect since April 8, the situation remains highly volatile with Iran blocking the strait and the United States imposing a blockade on Iranian ports. Several incidents have taken place in the past few days.

According to Hamidreza Hajibabaei, Vice President of the Iranian Parliament, the initial revenues from the Ormuz Strait passage fees have been deposited in the Central Bank. However, other media outlets have echoed this statement without providing further details.

Since February 28, Iran has only allowed a very limited number of ships to pass through the strait, which is not only crucial for global oil and gas exports but also for the transportation of other essential goods. Iranian state media had reported on March 30 that the Parliament’s security commission had approved these toll projects, although it is unclear if a final vote on the proposal has taken place.

President Donald Trump is urging Iran to reopen the strait, while Iran is making the end of the American blockade a condition to return to the negotiating table for a lasting resolution to the conflict. This week, the United Kingdom hosted military officials from around thirty countries to discuss the formation of a mission led by the UK and France to safeguard navigation in the Ormuz Strait.