ICC Proposes Neutral Framework to Reopen Strait of Hormuz

The International Chamber of Commerce (ICC) has developed a neutral governance framework backed by the United Nations to reopen the Strait of Hormuz for commercial shipping. The proposal focuses on the transport of raw materials and fertilizers, utilizing a model similar to the Black Sea Grain Initiative. Under the plan, a Joint Co-ordination Center would be established in Salalah, Oman, to manage vessel registration, monitoring, and deconflicted routing.

Administrative leadership for the mechanism would be provided by the Executive Director of the United Nations Office for Project Services, with additional support from UNCTAD and the IMO. While the framework is ready for immediate deployment, it requires the formal agreement of the United States and Iran.

Implementation is currently stalled by a diplomatic dispute over Article 5 of a June Memorandum of Understanding. Both the United States and Iran claim the exclusive right to develop the administrative mechanism for the strait, leaving the legal ambiguity of the agreement as a primary hurdle to restoring trade.