GeopoliticsIMPORTANTJuly 13 at 02:00 PM

Iran Foreign Minister says whoever provides secure and safe passage of commercial vessels through Hormuz should be compenstaed; Iran has always been the Guardian of the Strait and will remain so forever; "20% is of course too much. We will be fair."

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Iran reasserts its guardianship over the Strait of Hormuz, proposing a compensation model for secure passage while rejecting high-cost transit fees as unfair.

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Geopolitics

Iran Foreign Minister says whoever provides secure and safe passage of commercial vessels through Hormuz should be compenstaed; Iran has always been the Guardian of the Strait and will remain so forever; "20% is of course too much. We will be fair."

What do investors think?

Today's market highlights

Gulf official tells CNN “50:50” chance US and Iran could reach deal by Friday, CNN reports; Iranian delegation does not include IRGC, which would need to sign off on details of provisional agreement

The draft agreed to by Iranian and Omani negotiators awaits final approval from Iran’s supreme leader, two regional officials told The Associated Press on Wednesday

Only 'one or two issues' remain unresolved in Iran-Oman talks, a senior diplomatic source tells Al Jazeera