Iran is considering turning the Strait of Hormuz into the world's most expensive toll booth, charging vessels an immense sum for safe passage.
Supreme Leader Mojtaba Khamenei is pushing for ways to monetise its control of the narrow body of water, through which 20 per cent of the world's oil passes.
Iranian news outlet Daily Javan said charging vessels for safe passage would "compensate Iran's losses in the war".
READ MORE: Trump considering ground invasion of critical Iranian island: reports To pay for the damage Iran has suffered in the war, the article wrote oil tankers could be taxed $US50 a barrel - a 50 per cent markup.
Such a move would send oil prices surging worldwide, including in Australia.
But ships from Israel and the US would not be allowed in through strait at all.
This would not be a major concern for the US, which produces much of its own oil.
It would be a blow to Israel's refined petroleum supplies, however.
Already Iran is reportedly charging shipping companies about $2.8 million in order to....
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