The Strait of Hormuz, through which roughly 20 percent of the world's oil moved before February 28, is functionally closed. S&P Global reported on March 10 that traffic had dropped to three ships in a single day — one of them a US-sanctioned VLCC carrying Iranian crude to China. [1] CNBC reported on March 18 that the trickle has not improved. [2] As this paper noted when Iran began selectively permitting its own shipments, the strait is open for Tehran and closed for everyone else.

Now Iran wants to formalize the arrangement. A Tehran lawmaker told Reuters on March 19 that parliament is drafting legislation to impose transit fees on vessels using the strait as "safe passage." [3] Iran International reported that the proposal would mandate payments and taxes for commercial shipping. [4] One tanker operator has already reportedly paid Iran $2 million for a single transit. [5]

The toll proposal turns a wartime blockade into a revenue instrument. Whether anyone pays voluntarily is another question.

-- YOSEF STERN, Jerusalem