Iran Collects First Shipping Toll Revenue from Strategic Strait of Hormuz

Iran has received its first revenue from transit fees on vessels navigating the Strait of Hormuz, a key route for nearly 20% of the world’s oil and gas. The deputy speaker of Iran’s parliament confirmed that these funds are now in the Central Bank. Since hostilities began on February 28, Tehran has restricted most shipping and moved to formalize controversial tolls. The Islamic Revolutionary Guard Corps has also seized two container ships in recent weeks. International pressure is mounting for Iran to reopen the waterway. Over thirty nations, including Britain and France, are planning a joint mission to secure safe passage once conditions allow. Meanwhile, separate legal updates note former Kaduna Governor El-Rufai’s court appearance on phone-tapping charges and a Nigerian couple in the US facing sentences for fraud.

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