📋 Iran Economy Brief

US Reaffirms Opposition to Iranian Tolls on Strait of Hormuz as Banking Cyberattacks Persist and Oil Exports Continue Under Temporary Sanctions Waiver

June 25, 2026 · 🟡 Risk: Moderate

⚖️ Two accounts of the same story

Where sources agree

Multiple sources confirm the ongoing banking cyberattacks, the issuance and impact of the US General License X for Iranian oil exports, and the conflicting narratives between the US and Iran regarding the use of frozen assets and control over the Strait of Hormuz. There is a general consensus that the temporary oil sanctions relief has contributed to a decrease in global oil prices.

Where sources differ

The primary competing narratives revolve around the terms of the $12 billion frozen asset release (Iran claims 'absolute liberty' in usage, while the US insists on humanitarian purchases of US agricultural products) and the future administration and potential tolls for the Strait of Hormuz (Iran asserts control, while the US firmly rejects any tolls). There are also differing reports on the exact status and resolution timeline of the banking cyberattacks, with some indicating ongoing disruptions despite central bank expectations of resolution.

Each outlet's position is reported as that outlet's position, not as established fact. Every contradiction we've recorded →

The Iranian economy faces ongoing operational disruptions from cyberattacks on its banking system, coupled with significant geopolitical uncertainties surrounding the use of unfrozen assets and the long-term administration of the critical Strait of Hormuz, despite a temporary easing of oil sanctions.

📌 Key developments

US Secretary of State Marco Rubio and President Donald Trump reiterated on June 24 that Iran would not be permitted to charge tolls for passage through the Strait of Hormuz, directly countering Iran's previous assertions of administering the waterway.
Iranian banking services, particularly card-based transactions at major state banks including Bank Melli, Bank Saderat, and Bank Tejarat, continued to experience disruptions on June 24 following intensified cyberattacks that began on June 23, with authorities working to restore full operations.
The temporary 60-day General License X, issued by the US Treasury on June 22, continues to facilitate Iranian crude oil and petroleum product exports and allows transactions in US dollars, contributing to a fall in global oil prices to pre-war levels.

💡 Why it matters

The explicit US stance on Hormuz tolls highlights a critical point of contention that could impact future stability and global energy flows beyond the current 60-day oil export window. The persistent banking disruptions underscore the vulnerability of Iran's financial infrastructure to cyber warfare and internal dissent, while the temporary oil sanctions relief provides some economic breathing room but remains subject to ongoing political negotiations and disagreements over fund usage.

👀 What to watch

Further updates on the full restoration of Iran's banking services and any new information regarding the perpetrators or scope of the cyberattacks.
Any new statements or actions from Iran or the US regarding the terms of the $12 billion frozen assets release or the long-term administration and potential fees for the Strait of Hormuz.

Non-partisan. Every claim traceable to sourced reporting. More Economy → · فارسی