Iran has turned the Strait of Hormuz -the world’s most vital energy chokepoint- into a brazen state-run tollbooth. Around 20.9 million barrels of crude oil, condensate, and refined products surge through the Strait every single day. That volume equals 25% of global seaborne oil trade and 20% of worldwide petroleum consumption.

Since the Pakistan-brokered ceasefire between the United States and Iran took effect, Tehran has imposed a functioning toll system. Commercial vessels must now email cargo manifests to Iranian authorities and submit to vetting for “hostile connections.” They are forced to divert around minefields via corridors patrolled by the Islamic Revolutionary Guard Corps and pay fees that routinely hit $2 million per supertanker. Payments arrive in Chinese yuan, stablecoins, or bitcoin. Compliance brings an armed escort. Refusal strands ships in the Persian Gulf or forces a $15 million detour around Africa, adding three weeks to every voyage.

This is a state-run tollbooth, upgraded from the Iran-backed Houthis protection racket that extracted $180 million a month in Red Sea safe-passage fees. Ship owners there quickly learned that paying beat the risks of missiles or the long reroute around the Cape of Good Hope. Iran has now scaled the model to the planet’s most critical energy artery.

The Islamic Revolutionary Guard Corps keeps........

© The Times of Israel (Blogs)