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The economic equation surrounding the Strait of Hormuz/ Who is winning and who is losing from the blockade?

2026-05-23 08:24:00, Kosova & Bota CNA

The economic equation surrounding the Strait of Hormuz/ Who is winning and who

The economic equation surrounding the closure of the Strait of Hormuz seems to clearly favor Iran. Given this, why don't shipping companies simply pay Tehran the asking price so that their ships can continue their journey unhindered?

According to an analysis by Al Jazeera, eleven weeks after the outbreak of hostilities with Iran, the Strait of Hormuz remains blocked to commercial shipping, causing ripple effects on the global economy that extend far beyond the Persian Gulf.

The Islamic Revolutionary Guard Corps (IRGC) controls this strategic sea passage with an iron fist, while the corresponding US naval blockade of Iranian ports has failed to force Tehran to back down.

Before the war, 120 to 140 ships passed through the strait every day. Half of them were tankers, which together transported about 20 million barrels of oil a day.

Today, only a few ships are allowed to pass, whose owners have reached a compromise and direct negotiations with the Revolutionary Guard.

On Wednesday, Iran announced that it had allowed 26 ships to pass through in a single 24-hour period, just two days after the official establishment of the Persian Gulf Strait Authority (PGSA). This is a new Iranian entity that will provide real-time updates on maritime transport in the region.

Since last April, when a temporary ceasefire was agreed with the US, Tehran has been trying to create a permanent mechanism to impose tariffs on ships passing through the strait, which in normal times carries 20% of the world's oil and liquefied natural gas.

Information indicates that since the start of the war, Iran has demanded up to $2 million per ship as a "safe passage fee."

Although the international community condemns this practice as illegal and extortionate, the cost of the "taxes" may be far less than the colossal economic losses caused by the daily blockade of the crossing.

 

 

 

 

 

 

 

 

 





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