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Business News Today: Latest Business News, Finance News

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US would not tolerate Iran normalising tolls on Hormuz pa...
2026-04-28 · via Business News Today: Latest Business News, Finance News
US Secretary of State Marco Rubio

US Secretary of State Marco Rubio | Photo Credit: KEN CEDENO

US Secretary of State Marco Rubio on Monday (local time) strongly criticised attempts by Iran to regulate or monetise the passage of vessels through the strategic Strait of Hormuz, warning that such actions would not be accepted by Washington and amount to an illegitimate claim over an international waterway.

In an interview with Fox News, Rubio said the United States would reject any effort to "normalise" a system in which Iran dictates access to one of the world's most critical maritime chokepoints. "If what they mean by opening the Straits is 'Yes, the straits are open as long as you coordinate with Iran. Get our permission, or we'll blow you up and pay us.' That's not opening the Strait. That is an international waterway," Rubio said.

"They cannot normalise, nor can we tolerate them trying to normalise, a system in which the Iranians decide who gets to use an international waterway and how much you have to pay them to use it," he added. His remarks come amid heightened geopolitical tensions surrounding maritime security in the Gulf region, particularly the strategic Strait of Hormuz, through which a significant portion of global oil shipments pass.

The Strait has seen major disruptions affecting global trade and energy supply chains due to the ongoing power struggle between Washington and Tehran. Earlier on Sunday, UK Prime Minister Keir Starmer and US President Donald Trump underscored the "urgent need" to restore maritime traffic through the Strait of Hormuz.

According to a statement from the UK Prime Minister's Office, the two leaders, during a phone conversation, exchanged their views on wider developments in West Asia and recent security incidents in Washington. Both leaders focused on the situation in the Strait of Hormuz, a critical global shipping route, highlighting the "urgent need to get shipping moving again" in the waterway, citing potential "severe consequences for the global economy and cost of living for people in the UK and globally."

The leaders also reviewed ongoing diplomatic and security efforts aimed at safeguarding maritime navigation, including updates from a joint initiative led by the UK and France. "The Prime Minister shared the latest progress on his joint initiative with President Macron to restore freedom of navigation, following the military planning conference at Northwood this week," the statement added.

Meanwhile, last week, Iran's central bank confirmed that revenue from newly introduced transit fees for vessels passing through the Strait of Hormuz has been successfully deposited, putting to rest speculation over the form of payment, as reported by Iranian state media Press TV. According to Press TV, the income was received in "cash currency" and credited to the central bank's accounts.

Published on April 28, 2026