Iran promises 'friendly fares for friendly nations' at Strait of Hormuz

Iran promises 'friendly fares for friendly nations' at Strait of Hormuz
Strait of Hormuz

Iran has announced plans to impose fees on ships passing through the Strait of Hormuz, with exemptions for “friendly” nations.

Ambassador Abdolreza Rahmani Fazli revealed the development during the World Peace Forum in Beijing on Saturday. He stated that Iran and Oman are collaborating on new regulations for the vital waterway crucial to global oil and gas trade.

The ambassador indicated that nations deemed “friendly” to Iran, particularly those who supported it in challenging times, would receive preferential treatment under the proposed rules.

Currently, there is a temporary agreement between Iran and the United States allowing commercial ships to transit the strait free of charge for 60 days. However, the situation remains uncertain once the period expires.

Iran previously announced that it plans to charge vessels for “maritime services” in the Strait of Hormuz. Negotiations for a lasting resolution are ongoing since a memorandum of understanding was signed between Iran and the US on 17 June.

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