Tehran: Iran is reportedly planning to levy fees of up to Rs 18.5 crore on vessels transiting the Strait of Hormuz, one of the world’s most critical oil shipping routes.
The move comes as Iran has indicated it is ready to reopen the strait after a ceasefire decision. Reports say the Iranian Parliament has approved a key bill enabling the collection of transit charges.
Under the proposal, the fee may vary based on a ship’s type, weight and other conditions. Each vessel passing through the strait could be charged up to the stated maximum.
Iran has said the proceeds would be shared with Oman, and that the revenue would be used to rebuild domestic infrastructure damaged in attacks by the United States and Israel.
With more than 100 ships reportedly using the route daily, analysts caution that implementing the new fee could raise crude oil prices. Economists also warn of potential impacts on global trade, energy security and inflation, as many countries including India rely on the strait.
