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'NO TRANSIT FEE FOR RUSSIA': Iran Says Russian Ships Free To Pass Hormuz Despite Blockade
| Apr 24, 2026, 03:57:08 PM | TOI.in
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Iran has granted fee exemptions to ‘friendly’ nations including Russia while charging others to pass through the Strait of Hormuz. The move follows rising tensions and a partial blockade, turning the vital oil route into a controlled corridor. With up to $2 million fees for large tankers, global shipping costs are soaring. Brent crude has surged past $100, while alternative routes like the Panama Canal are witnessing record demand and prices. The crisis highlights how geopolitical tensions are rapidly transforming global energy flows and trade dynamics.
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