Summary
- Iran and Oman are pursuing a plan to impose tolls on ships passing through the Strait of Hormuz.
- Imposing tolls on the Strait of Hormuz, which handles about 20%% of global oil shipments, would inevitably alter international maritime shipping rules.
- The tolls could also have a direct impact on the energy market.
Forecast Trend Report by Period
Iran and Oman are pursuing a plan to charge tolls on ships passing through the Strait of Hormuz, according to a report.
The Associated Press reported on April 8, citing an unnamed official, that a proposed two-week ceasefire agreement between the US and Iran includes a provision for Iran and Oman to levy fees on vessels transiting the strait.
A regional official involved in the talks said Iran plans to use the toll revenue for postwar reconstruction. How Oman would use the funds has not been disclosed.
The Strait of Hormuz is a key maritime chokepoint at the entrance to the Persian Gulf and lies within the territorial waters of Iran and Oman. The international community has long treated it as an international waterway open to transit without separate tolls.
If carried out, the move would reshape international maritime shipping rules. About 20% of global oil shipments pass through the strait, so any tolls could also have a direct effect on energy markets.
YM Lee
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