Iran's 'Gun Tax' on Strait of Hormuz Sparks Global Concerns

Tehran: The Strait of Hormuz, which is the gateway to 20 per cent of the world's energy supplies, is now set to become a recovery point for Iran. The powerful leader of the Iranian parliament, Alaeddin Boroujerdi, has indicated that Iran has the right to charge $2 million (approximately over ₹180 million) from every ship passing through this strategic waterway. The Western media is calling this a "gun tax," while Iran sees it as a symbol of its sovereignty and seizing its maritime border. The move is threatening to cause a major spike in global oil prices and a complete breakdown of supply chains. On the other hand, US President Donald Trump has taken a very aggressive stance on the issue, issuing a 48-hour ultimatum to Iran. Trump has threatened in clear terms that if Iran does not open this devastated sea route, the US Air Force will directly attack Iran's power plants and energy infrastructure. In any case, Iran's oil supply to the Gulf countries is not on high alert.