G7 leaders and Australian Foreign Minister Penny Wong issued a joint statement Wednesday opposing the collection of transit tolls in the Strait of Hormuz [1].
The move signals a coordinated effort to protect global trade arteries from financial barriers that could destabilize international shipping and energy markets.
The G7 group — comprising the U.S., U.K., France, Germany, Italy, Canada, and Japan — said that such fees threaten the foundation of international trade [1]. Australian Foreign Minister Wong said she opposes any plan to collect transit tolls [2].
This diplomatic pressure follows a period of escalating tension over maritime fees. On May 28, U.S. Treasury Secretary Scott Bessent said that entities participating in the collection of tolls would face sanctions [4].
However, the Iranian government disputes the characterization of these payments. The Iranian Foreign Ministry said on May 25 that Iran is not imposing transit tolls, but is instead collecting fees for "navigation services" [3].
Alongside the opposition to tolls, the G7 leaders welcomed a memorandum of understanding reached between the U.S. and Iran [1]. The group said the agreement is a historic opportunity to prevent Iran from acquiring nuclear weapons [5].
While some reports attribute the agreement to the leadership of former President Donald Trump [1], official records indicate the memorandum was concluded in 2026 [4].
“"If you participate in the collection of tolls, you will face sanctions"”
The G7's joint stance aims to maintain the Strait of Hormuz as a free passage, preventing a precedent where regional powers can monetize essential shipping lanes. By pairing this opposition with the welcoming of the U.S.-Iran memorandum, the G7 is attempting a dual-track strategy: using the threat of sanctions to curb financial restrictions while utilizing diplomatic agreements to address nuclear proliferation.
