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The Guardian - UK
The Guardian - UK
World
Jillian Ambrose and Tom Knowles

What would a permanent ‘Tehran’s tollbooth’ on oil mean for the world?

Oil Iran Tehran United States Economy Hormuz IRGC Bruegel
An oil tanker at sea
The toll could add a $1 cost to every barrel of crude oil transported by tankers through the strait of Hormuz. Photograph: Mohammed Aty/Reuters

A second round of peace talks between the US and Iran has begun amid renewed attacks on oil tankers in the strait of Hormuz and a US blockade on Iranian vessels through the crucial trade route.

The future of this narrow waterway – and curbs on Iran’s nuclear programme – are at the centre of the talks after Tehran’s de facto blockade on oil and gas tankers via the strait pushed up energy prices.

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