BREAKING: 🇮🇷🇯🇵 Iran and Japan close to agreement on Hormuz transit Iran has begun negotiating individually with each country regarding the Strait of Hormuz and will likely charge a hefty fee. Abbas Araghchi, Iran's Foreign Minister, said in an interview to Kyodo News that Iran is preparing to escort Japanese tankers through the Strait of Hormuz. If Iran starts charging around 10% per tanker, according to some reports, the country will collect $800 billion annually.