Iran Eases Transit Rules, Charges $2m for Hormuz Passage
Iran is easing restrictions on transit through the Strait of Hormuz, saying vessels not deemed hostile and not supporting military action against Tehran may pass, according to its mission to the United Nations.
Ships must comply with Iranian security regulations and coordinate their passage with relevant authorities, the mission said late on Tuesday.
The Strait of Hormuz has become a flashpoint in the current U.S.-Israeli war with Iran. Tehran has repeatedly attacked vessels in the waterway, effectively closing off a key shipping route for global oil and gas supplies.
The narrow passage between Iran and Oman is the only link between the Gulf and the world’s oceans. It is regarded as one of the most important shipping routes globally, with around 20 per cent of the world’s oil supply normally passing through it.
Iran charges $2m for passage
Iran has started charging transit fees on some commercial vessels passing through the Strait of Hormuz, another sign of Tehran’s control over the world’s most important maritime energy channel.
Payments of up to $2 million per voyage are being sought on an ad hoc basis, effectively creating an informal toll on the waterway, according to people familiar with the matter, who requested anonymity to discuss sensitive matters.
Some vessels have made the payment, though the mechanism wasn’t immediately clear — including the currency used — and it doesn’t appear to be systematic, the people said.
The payments show Iran’s influence over Hormuz, through which normally about one-fifth of the world’s oil and gas, and vast amounts of food, metals and other materials, are shipped every day.
With the war in the Middle East now in its fourth week, it also highlights the desperate need for some consumers to ensure continued energy flows. MTN Nigeria Lost N1.02trn over Large Scale Selloffs
