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Nick Fountain

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
1658 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
How to get through the Strait of Hormuz

So the friend got in touch with the Indian government, who helped him broker a deal.

Planet Money
How to get through the Strait of Hormuz

The SEPA Navy is part of the most powerful military body in Iran, an organization called the Islamic Revolutionary Guard Corps.

Planet Money
How to get through the Strait of Hormuz

Passed through the strait, yes.

Planet Money
How to get through the Strait of Hormuz

Hamid's friend got word that it was possible.

Planet Money
How to get through the Strait of Hormuz

But first, he had to send some information.

Planet Money
How to get through the Strait of Hormuz

Like ship name, country that it's flagged, where it's headed, what's on board, who's on board.

Planet Money
How to get through the Strait of Hormuz

The...

Planet Money
How to get through the Strait of Hormuz

Hamid said the Iranians were mainly checking to make sure the captain and the crew weren't from the U.S.

Planet Money
How to get through the Strait of Hormuz

or Israel or Iran's other adversaries, and that the ship and cargo weren't affiliated with those countries, too.

Planet Money
How to get through the Strait of Hormuz

Though he said, as far as he knows, the Iranian authorities were not verifying who was on the vessels by boarding or sending drones.

Planet Money
How to get through the Strait of Hormuz

For Hamid's friend and his ship, everything checked out.

Planet Money
How to get through the Strait of Hormuz

Then they approved.

Planet Money
How to get through the Strait of Hormuz

They approved.

Planet Money
How to get through the Strait of Hormuz

But his friend's ship could not pass yet.

Planet Money
How to get through the Strait of Hormuz

First, he had to pay a toll.

Planet Money
How to get through the Strait of Hormuz

Hamid's friend told him the ship had to pay one dollar per barrel of oil.

Planet Money
How to get through the Strait of Hormuz

And keep in mind, these ships, they are big.

Planet Money
How to get through the Strait of Hormuz

Very large crude carriers, or VLCCs, carry 2 million barrels of oil.

Planet Money
How to get through the Strait of Hormuz

So these tolls could be as much as $2 million each time.

Planet Money
How to get through the Strait of Hormuz

But Iran does not want to be paid in dollars, Hamid's friend told him.