U.S. Treasury Secretary Scott Bessent warned Oman on Thursday against imposing tolls on the Strait of Hormuz [1, 2].
Any disruption to this critical waterway threatens the stability of global energy markets and risks escalating existing diplomatic friction between the U.S. and Iran. Because the strait is a primary artery for oil exports, the introduction of a toll system could lead to significant economic volatility.
Bessent said Washington would target any actors that facilitate the imposition of such tolls [1, 2]. The Treasury Secretary said he would use sanctions to prevent the establishment of a payment system for ships traversing the waterway [1, 2].
These warnings come as tensions between the U.S. and Iran continue to heighten, creating a volatile environment in the Persian Gulf. The U.S. maintains that the strait must remain open to international shipping without the interference of unauthorized fees [1, 2].
The threat of instability in the region has already impacted global markets. Brent crude prices have risen to above $110 per barrel [3].
Oman occupies a strategic position at the entrance of the strait, often acting as a mediator in regional conflicts. However, the U.S. position indicates that the Treasury will not tolerate policies that disrupt the free flow of commerce, regardless of the actor involved [1, 2].
“Washington would target actors that facilitate such tolls”
The U.S. is using the threat of financial sanctions to ensure the Strait of Hormuz remains a free-transit zone. By targeting Oman, a traditional regional mediator, the Treasury is signaling that economic pressure will be applied to any state that attempts to monetize the waterway, as such a move would grant significant leverage over global oil prices and exacerbate the geopolitical standoff with Iran.
