As Iran's Islamic Revolutionary Guard Corps (IRGC) tightens its financial grip on the world's most critical oil chokepoint with a new toll system, President Donald Trump dismissed the regime's power, declaring the United States entirely insulated from the crisis.

A De Facto ‘Toll Booth’

Following a 90% plunge in traffic through the Strait of Hormuz, as reported by CNBC, Iran has established a highly controlled shipping corridor near Larak Island. The IRGC is now charging tolls starting at $1 per barrel of oil, payable in Chinese Yuan or stablecoins.

Vessel operators must undergo rigorous vetting through IRGC-linked intermediaries. Ships are forced to provide cargo manifests and transponder data to prove they have no ties to the U.S. or Israel before receiving a passage permit.

“Iran's IRGC has imposed a de facto ‘toll booth' regime,” reported Lloyd's List Intelligence, noting that Tehran’s parliament recently advanced a bill to institutionalize this financial control over the waterway.

‘Totally Independent’

Addressing the nation regarding “Operation Epic Fury,” President Trump projected unbothered confidence, pointing to record domestic energy production as a shield against Iran’s economic maneuvers.

“We’re now totally independent of the Middle East,” Trump declared. “We don’t need their oil. We don’t need anything they have.”

Despite Iran asserting control over global trade routes, Trump insisted the military campaign has already neutralized the regime. He boasted that Iran has been “decimated” and its military infrastructure is effectively “gone.”

A Warning To Allies

These contrasting realities leave oil-dependent nations navigating a precarious geopolitical maze. While countries like China and India have reportedly secured safe transit through direct diplomacy with Tehran, Trump offered blunt advice to nations bearing the brunt of the fuel supply shock.

Noting that the U.S. imports almost no oil through the chokepoint, he suggested allies either buy abundant American gas or secure the waterway themselves.

“Go to the strait and just take it, protect it, use it for yourselves,” Trump urged, effectively leaving the burden of navigating Iran’s new toll system to the international community.

Trump’s Speech Send Crude Soaring

Following Trump’s speech both Brent and WTI Crude Oil futures surged. At the last check, WTI futures rose 4.76% to $104.89, close to its day’s high at $105.65 and Brent futures were 5.69% higher at $106.96.

The WTI futures tracker, United States Oil Fund, LP (NYSE:USO) was up 5.41% in overnight trading. It advanced 51.42% over the last month and 77.93% year-to-date.

Similarly, the Brent futures tracer United States Brent Oil Fund, LP (NYSE:BNO) gained 6.10% overnight, being 44.58% higher over the last month and 76.47% YTD.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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