GeopoliticsIMPORTANT

Informed source says Northern and southern corridors of the Strait of Hormuz will be eliminated, Fars reports

StockNow breaking-news AI analysis

Iran and Oman agree to a single middle corridor in Hormuz, with Iran controlling entry. Fees shift to a service-based model. Brent reflects supply risks amid ongoing diplomatic finalization.

News detail

An informed source in the Foreign Ministry told Fars: According to the framework of the negotiations between Iran and Oman, the entry to the Strait of Hormuz is to be carried out through the northern corridor of the strait near the Iranian coast, and the exit of ships will be through the southern corridor near the Oman coast. After the specified deadline, the passage of ships through both the northern and southern corridors will be stopped and all traffic will take place through the middle corridor, with the difference that the entry of ships will be managed by Iran and the exit will be jointly managed by Iran and Oman. The determined fees for ships to pass through the strait will be determined in the form of various service prices. The news that Iran and Oman disagree on the percentage of the value of ships' cargo [a tariff of 7 or 3 percent of the cargo value] as payment is not true, and the receipts from ships are a function of many variables from Including the amount of services we can provide. Insurance, refueling, environmental costs and such are among the services that ships must pay for.

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