Iran and Oman have initiated discussions to forge an agreement regarding the future management of the Strait of Hormuz, specifically focusing on the costs associated with transit. This development comes as traders and shipowners express anxiety over the potential implementation of new tolling arrangements in the critical waterway.
The two nations, which share borders along the narrow entrance to the Persian Gulf, plan to discuss navigation-related services and their corresponding costs, ensuring they align with international standards. Both countries have reiterated their commitment to maintaining the Strait of Hormuz as a secure and open route for international shipping.
The discussions follow Iran's previous statements about seeking to assert greater control over the Strait since an interim peace deal with the U.S. earlier this month. Last week, Iran had suggested requiring permission and a mandatory, albeit currently free, insurance policy for ships using the waterway, which was seen as a potential precursor to future fees. Western allies, including the U.K., are reportedly urging the U.S. not to accept any arrangement that allows Iran to impose transit fees, citing concerns that such tolls could violate international maritime law and establish a dangerous precedent for other global waterways.
