Tehran Receives First Revenue From Strait Of Hormuz Amid US Blockade

Amid the ongoing blockade of Iranian ports by the United States, Iran has received its first revenue from tolls applicable to transit from the Strait of Hormuz, a vital trade chokepoint.

The second deputy parliament speaker claimed that the first revenue from the Strait of Hormuz was deposited into a Central Bank account.

“The first revenue received from the Strait of Hormuz tolls was deposited into the Central Bank account,” says Deputy Speaker of Parliament, Hamidreza Hajibabaei, citing a Tasnim news agency report. 

Meanwhile equity market fell, including Indian benchmark stock market indices Sensex and Nifty 50. On the other hand, oil prices surged above $102 per barrel. The sentiments over the United States and Iran's next round of peace talks remained on edge as Tehran continued to refuse to reopen the Strait of Hormuz.

Recently, the Islamic republic targeting three container ships in the waterway and citing Washington’s blockade as its reason for keeping it closed.

Investors have spent most of the week upbeat that a breakthrough to end the seven-week conflict will be made soon, while healthy earnings and a resumption of the AI trade has also provided support.

This comes after Trump's extension of ceasefire, while maintaining the blockade of Iranian ports. In a recent statement on Truth Social, Trump said the decision followed a request from Pakistan's leadership and internal divisions within Iran's government.

“Based on the fact that the Government of Iran is seriously fractured... we have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump said.

"I have therefore directed our military to continue the blockade... and will therefore extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other,” he added.