More than 20 commercial ships have successfully passed through the Strait of Hormuz in the past 24 hours each is said to have paid a total fee of…

Iranian actions, Iran has imposed “navigational service,” security, and transit fees on vessels seeking safe passage. Some payments have reportedly been made in Chinese yuan or even cryptocurrency, with individual tanker charges reaching around $2 million—roughly $1 per barrel for a fully loaded Very Large Crude Carrier (VLCC).

While not every vessel continue reading …