In the Strait of Hormuz, tensions are mounting as Iran’s Islamic Revolutionary Guard Corps (IRGC) has begun imposing controversial tolls of up to $2 million per vessel, often requiring payment in Chinese yuan or cryptocurrency. While President Trump publicly warned that these fees violate a fragile ceasefire and are "not the agreement we have," he also previously floated a potential "joint venture" to split such proceeds with Tehran. This burgeoning system—backed by Chinese financial rails—is drawing sharp rebukes from UN maritime agencies and global allies who view it as a dangerous threat to the long-standing principle of freedom of navigation.
