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Iran Sets $2 Million Hormuz Toll; Trump, Pakistan Talk

5/1/2026

31 3 Full Breakdown

Summary

Story summary

Iran announced it will charge ships $2 million each to transit the Strait of Hormuz, saying the fee secures the Gulf.
President Donald Trump floated a plan to reopen the Strait of Hormuz while keeping the blockade, which has halted Iranian oil tankers and squeezed Iran’s oil revenue.
Pakistan said it continues to facilitate indirect U.S.–Iran talks and would welcome direct phone communication between the two sides.

History

Historical Context

In July 1987 the United States launched Operation Earnest Will, deploying four frigates, three cruisers and a destroyer to escort Kuwaiti-flagged tankers through the Strait of Hormuz amid the Iran-Iraq war. The convoy’s $1.5 million-per-ship protection cost set a precedent for later Iranian transit fees, influencing today’s $2 million charge and renewed Gulf security debates.

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Story summary

Iran announced it will charge ships $2 million each to transit the Strait of Hormuz, saying the fee secures the Gulf.
President Donald Trump floated a plan to reopen the Strait of Hormuz while keeping the blockade, which has halted Iranian oil tankers and squeezed Iran’s oil revenue.
Pakistan said it continues to facilitate indirect U.S.–Iran talks and would welcome direct phone communication between the two sides.

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