Iran Pushes for 'Service Fees' in Strait of Hormuz; Potential $40 Billion Annual Revenue

Iran is pushing to impose service fees on vessels passing through the Strait of Hormuz, the Wall Street Journal (WSJ) reported on June 25 (local time).

Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament and former head of the negotiating team, stated during a visit to Oman on the same day that "the management system of the Strait of Hormuz will never return to its pre-war state."

It is reported that Iran is referencing the case of Turkey, which charges service fees to vessels passing through the Dardanelles, an international waterway.

Under a treaty signed in 1936, Turkey has the authority to charge fees to vessels passing through the Dardanelles for lighthouse operations and maritime rescue services.

According to Iranian officials, Iran has proposed a plan to countries around the Persian Gulf to participate in a management system for the Strait of Hormuz and share the revenue generated from transit fees.

It is estimated that if safety, security, and environmental services in the Strait of Hormuz are monetized, it could generate approximately $40 billion (about 60 trillion won) in annual revenue.

The move is intended to secure a new source of income by gaining management authority over the Strait of Hormuz.

Iran is also showing signs of attempting to make the operational method of the Strait of Hormuz an agenda item in its ongoing negotiations with the United States.

Although transit through the Strait of Hormuz resumed following the ceasefire, the Islamic Revolutionary Guard Corps (IRGC) has warned that it will take action against vessels that do not use the routes it has designated.

In fact, a Singapore-flagged vessel passing through the Strait of Hormuz was struck by an unidentified projectile on this day.

In response, the Iranian side stated, "We cannot guarantee safe passage if vessels navigate outside the zones we have designated."

However, the United States maintains that it cannot recognize transit fees for the Strait of Hormuz.

U.S. Secretary of State Marco Rubio stated, "No country has the right to impose tolls for the use of international waterways," adding, "This is a condition that cannot be accepted in any agreement."

Oman, which shares the Strait of Hormuz, also opposes Iran's plan to establish new transit fees.

Oman has announced that it will cooperate with the International Maritime Organization (IMO) to operate free temporary shipping lanes off the Omani coast.

Experts believe that Iran's plan to follow Turkey's example will be difficult to realize.

The reason is that Turkey's charging of service fees to vessels is an exceptional case based on a special agreement.

In particular, Iran is a signatory to international conventions that prohibit the unilateral imposition of costs on vessels.

James Kraska, a professor of maritime law at the U.S. Naval War College, pointed out, "For Iran to impose tolls, it would require the consensus of all 176 member states of the International Maritime Organization (IMO)."

However, it is reported that some major shipping companies are willing to accept a certain level of cost if it ensures stable access to the Strait of Hormuz, through which approximately 20% of the world's crude oil passes.
※ Please note: This article was translated by AI and may contain errors.