US media: If Iran establishes a toll system in the Straits, revenue will be comparable to Egypt's Suez Canal

This week, March 29, an Iranian official laid out a list of demands to end the war, including one that was not on the previous list: recognition of Iran's sovereignty over the Strait of Hormuz. CNN calculates that if Iran succeeds in establishing a toll system in the Straits, its revenue could be comparable to that of Egypt's Suez Canal. Typically, about 20 million barrels of crude oil and petroleum products pass through the Strait of Hormuz every day, roughly equivalent to the capacity of 10 Very Large Crude Oil Carriers (VLCCs). According to reports, Iran seeks to impose a toll of US$2 million on each oil tanker, which means that oil alone can bring in approximately US$20 million a day and approximately US$600 million a month. If liquefied natural gas transportation is included, this figure could rise to more than US$800 million per month, equivalent to 15%-20% of Iran's monthly oil export revenue in 2024. By comparison, Egypt earns between US$700 million and US$800 million a month in revenue from the Suez Canal, although revenue has dropped significantly over the past year due to disruption of Red Sea shipping.