Iran has reportedly imposed a massive $2 million (around ₹19 crore) transit fee on cargo ships passing through the crucial Strait of Hormuz—a key artery for global oil shipments. Iranian lawmaker Alaeddin Boroujerdi defended the move, calling it a symbol of the nation’s power and authority in the region. The decision is expected to disrupt global shipping and raise serious concerns among international trade operators, especially due to the risk of sanctions linked to financial dealings with Iranian entities.
The situation has turned more volatile after a sharp warning from former U.S. President Donald Trump, who issued a 48-hour ultimatum demanding that the strait remain open for global navigation. Iran has responded by stating that passage is allowed only with security coordination, emphasizing that access is restricted to non-hostile nations. Iranian UN maritime representative Ali Mousavi reaffirmed this stance, while Trump warned of potential military strikes on Iran’s energy infrastructure if demands are not met—raising fears of a major global energy and security crisis.
