A proposed 20% toll on shipping through the Strait of Hormuz poses a severe economic threat to Gulf states, particularly those without alternative export infrastructure.
The levy, attributed to US President Donald Trump, targets vessels transiting the critical chokepoint, adding a new layer of geopolitical friction to an already volatile region.
A 20% cost increase on transit would directly erode profit margins for state-owned energy firms and could trigger a contraction in export volumes if global buyers absorb the cost.
Kuwait, Bahrain, and Qatar are identified as the most vulnerable economies under this scenario.
Unlike larger Gulf producers with extensive pipeline networks to other regions, these nations rely almost exclusively on maritime exports for their hydrocarbon revenues.
A 20% cost increase on transit would directly erode profit margins for state-owned energy firms and could trigger a contraction in export volumes if global buyers absorb the cost.
The proposal arrives amid heightened tensions in the corridor.