• Trump has signaled interest in potential tolls for vessels transiting the Strait of Hormuz, with Oman possibly involved in monitoring.
  • The move could escalate tensions with Iran and roil global oil markets, as the strait handles a significant share of crude shipments.
  • Analysts warn of price volatility and shipping disruptions, though formal implementation remains speculative.

Former President Donald Trump has raised the prospect of imposing tolls on ships passing through the Strait of Hormuz, according to people familiar with the matter. In a recent discussion, Trump said he is “looking at” the idea, potentially involving Omani authorities in monitoring traffic. The statement, which comes amid heightened U.S.-Iran tensions, has already sparked concern among oil traders and shipping executives.

The Strait of Hormuz is a critical chokepoint for global energy supplies, with about a fifth of the world’s oil and liquefied natural gas traversing its waters. Any toll system—or even the threat of one—could push up crude prices and raise insurance costs for vessels. “This would be a dramatic shift in how maritime traffic is managed in one of the world’s most sensitive waterways,” said a senior Gulf-based analyst who asked not to be named because of the sensitivity of the talks.

Oman’s potential role as a traffic monitor is notable given its historically neutral stance in regional disputes. The sultanate has often served as a mediator between Washington and Tehran. However, according to a person briefed on the discussions, Omani officials have not yet committed to any plan. “They’re aware of the idea, but it’s very preliminary,” the person said.

Trump’s comments have revived memories of earlier confrontations over the strait, including Iran’s past threats to block shipments in retaliation for sanctions. While Trump did not specify a timeline or mechanism, his team is reportedly weighing options that could include a per-barrel fee or a flat transit charge. Critics argue such a move could backfire, alienating allies and giving Iran a pretext for escalation.

“We’re watching this closely,” said a senior executive at a European shipping firm, who spoke on condition of anonymity. “Any change to the status quo in Hormuz would have immediate consequences for our operations.”

Reached for comment, a spokesperson for Trump declined to elaborate on the former president’s remarks. The Iranian mission to the United Nations did not respond to requests for comment.

Note: This article is based on initial reporting; details may be updated as more information becomes available.