An Iranian official this week introduced a new condition for ending the war initiated by the United States and Israel, demanding recognition of Iran’s sovereignty over the Strait of Hormuz. The narrow waterway, through which nearly one-fifth of the world’s oil and liquefied natural gas passes, has become a central element of Tehran’s strategy. Iran now aims to turn it into a major source of annual revenue worth hundreds of billions of dollars while leveraging its global economic influence.

Analysts noted that Iran’s long-standing threat to close the strait in case of attack has gained new weight. The country’s leadership, including new Supreme Leader Mojtaba Khamenei, emphasized the strategic importance of using the strait’s blockade potential. Bloomberg Economics’ Middle East head Dina Esfandiary said Iran was surprised by how effective and inexpensive it was to pressure the global economy through this route.

According to a CNN estimate cited in the report, if Iran charged $2 million per large oil tanker daily, its monthly income could exceed $800 million, potentially surpassing Egypt’s Suez Canal revenues.