Oil Industry Pushes Back on Hormuz Tolls in Iran Peace Talks

Oil executives are lobbying the White House, State Department and VP to oppose Iran’s demand to toll ships through the Strait of Hormuz as part of peace talks, arguing it would raise a shipment’s costs by about $2.5 million, push up insurance, and create sanctions risk. Iran reportedly wants tolls paid in yuan or cryptocurrency, and diplomats warn such tolls could set a troubling precedent for other chokepoints, even as the administration reviews a revised Iranian proposal and reiterates its red lines on uranium enrichment amid ongoing Hormuz tensions.