'Unfounded': Iran Rejects Reports Of $2 Million Fee Demanded For Transit Via Strait Of Hormuz

Last Updated:March 23, 2026, 16:05 IST

Iran and MEA deny reports Iran demanded money for Strait of Hormuz passage as war linked tensions, IRGC role claims and Brent crude surge above 105 intensify.

Iran on Monday rejected reports that it has been demanding money for vessels to transit the Strait of Hormuz and called the claims as “unfounded".

In a post on X, the Iranian embassy in India said that reports of an “alleged receipt of a sum of 2 million dollars by the Islamic Republic of Iran from vessels transiting the Strait of Hormuz" are unfounded.

“The statements made in this regard merely reflect the personal views of individuals and do not, in any way, represent the official position of the Islamic Republic of Iran," it said.

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This comes days after a report by Lloyds List emerged that Iran took $2 million from a private oil tanker company to allow safe passage through the Strait of Hormuz.

It stated that Tehran has created a ‘safe’ shipping corridor through its territorial waters in the Strait of Hormuz, offering vetted vessels passage in exchange for approval.

The report claimed that multiple countries, including India, Pakistan, Iraq, Malaysia and China are discussing vessel transit plans directly with Tehran, where officials within the Islamic Revolutionary Guard Corps have established a nascent ship registration system for ‘approved’ vessels to agree to safe passage.

Meanwhile, the Ministry of External Affairs has rejected claims that an Indian oil tanker had paid Iran in Chinese Yuan to be allowed to pass through the Strait.

“Fake News Alert! Please stay alert against such false and baseless claims and posts on social media!" the MEA FactCheck handle posted on X.

As the war continues into its fourth week, the struggle over the Strait of Hormuz has become central to both the military and economic dimensions of the conflict, with global markets, regional security and geopolitical alliances increasingly shaped by developments around the critical waterway.

Also Read: US Deploys Nearly 5,000 Troops, Marines Amid Strait Of Hormuz Crisis, Signals Move On Kharg Island

According to AFP, Iran’s actions have amounted to a de facto blockade of the waterway, contributing to a surge in crude prices.

A barrel of Brent crude has risen more than 50 per cent over the past month, climbing above $105 amid fears of prolonged disruption.

News world 'Unfounded': Iran Rejects Reports Of $2 Million Fee Demanded For Transit Via Strait Of Hormuz

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