Iran’s shakedown in the strait

Iran is seeking to tighten its grip on the Strait of Hormuz — not by closing it, but by reopening it on its own terms and forcing countries to pay for passage.

Multiple reports — first from the maritime news outlet Lloyd’s List, then Bloomberg — now confirm that the colloquially named “Tehran Toll Booth” is open for business. How it works is simple: Iran offers passage through its territorial waters in the strait in exchange for payment as high as $2 million. It’s a shakedown, and tankers are happy to pay.