The National Security and Foreign Policy Committee in the parliament of Iran has approved plans to charge fees to vessels passing through the Strait of Hormuz, according to Iranian media reports.
The fees will reportedly be collected in return for various services and facilities provided to ships using the strategic waterway. Payments may be made in Iranian rials, while other currencies could also be accepted.
According to the reports, vessels passing through the Strait of Hormuz could be charged for services including fuel supplies, insurance, security and other related facilities.
Iranian authorities have yet to announce the final fee rates or provide details on how and when the new system will be implemented.
The Strait of Hormuz is one of the world’s most important maritime trade routes, connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea.
A significant share of global oil and liquefied natural gas shipments passes through the waterway, making it critical to international energy markets.
Any major decision by Iran affecting shipping through the Strait could therefore have consequences for global oil prices, energy supplies and international maritime trade.
Iran has recently taken a tougher position over the strategic waterway, with restrictions on maritime traffic raising concerns about the security of global energy supplies.
The approval of fees for vessels passing through the Strait is being viewed as another significant development in Tehran’s policy towards the waterway. Further details on the fee structure and implementation are expected to clarify the potential impact on international shipping.
Read more: Users warned over fake courier scam on WhatsApp in Pakistan
Also read: Islamabad, Rawalpindi to face power shutdown on August 24: IESCO
