Oil Industry Pushes Back Against Hormuz Toll Plan

Oil industry officials are privately urging the White House to oppose one of Iran’s conditions tied to a potential ceasefire: allowing Tehran to collect tolls from tankers passing through the Strait of Hormuz. The narrow waterway carries about one-fifth of the world’s oil supply, and energy executives warn that charging ships to pass would represent a major shift from the long-standing practice of unrestricted transit.

According to an industry consultant who spoke with Politico, energy leaders are actively reaching out to the administration. The consultant said companies are using any available channels to ask officials what the administration’s position will be. The response from the White House so far has been courteous but offered little indication of a final decision.

At a recent State Department meeting, representatives from the oil sector raised concerns about the potential financial impact. Iran is reportedly seeking a toll of around $2 million for each tanker that moves through the strait. When combined with increased insurance costs, the total added expense could reach roughly $2.5 million per trip. Industry officials say those additional costs would likely be passed on to consumers.

Energy companies also warned that formally recognizing Iran’s authority to impose such fees could encourage other nations to follow suit in key maritime chokepoints, including the Strait of Malacca and the Bosporus.

While many in the oil industry want the administration to reject the idea outright, the White House has indicated it may be considering alternative arrangements. President Trump has suggested the possibility of a “joint venture” involving toll revenue. White House press secretary Karoline Leavitt confirmed that sharing tolls is an idea the president has discussed.

At the same time, Leavitt emphasized that the administration’s immediate goal is restoring full access to the Strait of Hormuz without restrictions, including tolls or other limitations.

The passageway remains mostly shut despite the ceasefire agreement. Iranian officials said the closure was a response to Israeli strikes in Lebanon. Shipping activity through the strait has dropped sharply; data from S&P Global Market Intelligence shows that only four vessels were allowed to transit on Wednesday, the lowest number recorded on any day this month.

Reports indicate that vessels seeking passage must coordinate directly with Iran’s Islamic Revolutionary Guard Corps. Mediators say tankers are also being instructed to arrange toll payments in either cryptocurrency or Chinese yuan.