Story perspectives

Traffic in Strait of Hormuz Plummets to 5% Pre-War Levels

4/3/2026

Summary

Story summary

Traffic through the Strait of Hormuz has dropped to an average of seven ships daily, only 5% of pre-war levels, after Iran's control following US-Israeli strikes on February 28, 2023.
Over 2,000 ships remain stranded, with only 292 vessels crossing from February 28 to March 31, 2023, mostly Iranian.
Iran has introduced a "toll booth" system requiring ships to pay fees in yuan or stable cryptocurrencies, with oil tankers facing fees starting at $1 per barrel.

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Story summary

Traffic through the Strait of Hormuz has dropped to an average of seven ships daily, only 5% of pre-war levels, after Iran's control following US-Israeli strikes on February 28, 2023.
Over 2,000 ships remain stranded, with only 292 vessels crossing from February 28 to March 31, 2023, mostly Iranian.
Iran has introduced a "toll booth" system requiring ships to pay fees in yuan or stable cryptocurrencies, with oil tankers facing fees starting at $1 per barrel.