GeopoliticsIMPORTANT

Iran is considering charging European countries for the upkeep of the Strait of Hormuz, reports The Telegraph

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Iran and Oman proposed a voluntary navigation fund for the Strait of Hormuz. International opposition remains high due to concerns over trade weaponization, surging insurance costs, and maritime freedom violations.

News detail

The proposal, which is not finalised, would see the creation of a “voluntary fund” financed by Gulf countries and some European members of the International Maritime Organisation.   Gulf and European sources said the proposed voluntary fees would help fund the cost of managing navigation, environmental protection, search and rescue and other services in the Strait. Oman’s plan is based on the existing arrangements for the Strait of Malacca linking the Indian Ocean to the Pacific, where Indonesia, Malaysia and Singapore ask ships to pay a voluntary contribution for services.

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