Iran Proposes Transit Fees and Bans in Strait of Hormuz

The Government of Iran has proposed a strategic plan to impose restrictive conditions and transit fees on ships traversing the Strait of Hormuz. A senior official confirmed that the state intends to charge fees between 5% and 7% of cargo value, which could generate approximately $385 million per day based on annual traffic of $100 billion. A drafted deal would exempt Chinese vessels from these tolls.

The plan, published by the Fars News Agency and currently under review by a parliamentary committee, would ban ships from the United States, Israel, and other nations deemed hostile. Other countries that have harmed Iran would be denied access until compensation is paid. Violators could face cargo seizure or penalties equal to 20% of their cargo value. Crude oil prices rose following the publication of these proposals.

Parallel developments include reports that Iran and Oman are negotiating separate agreements to define transit routes. Meanwhile, Houthi allies of Iran claimed to have attacked Saudi Arabian troop concentrations and a Saudi tanker in the Red Sea, with the UK Maritime Trade Operations Centre reporting explosions off the coast of Oman. In response to the tension, U.S. Treasury Secretary Scott Bessent stated that a deal to ensure freedom of movement in the strait could be reached.