Kathmandu. The Strait of Hormuz has been opened since the end of the US-Iran war. However, Iran is now planning to stop free movement through this sea route soon. <\/p>\n
Iran is in talks with Oman and other neighboring countries to implement a plan to charge ships in Hormuz. Tehran plans to earn about $40 billion annually from Hormuz. Iran has repeatedly said it will charge tolls on ships passing through it. <\/p>\n
According to The Wall Street Journal, Iran is working on a major plan for Hormuz. Tehran hopes to earn up to $40 billion a year by charging ships for safety and environmental services along the vital sea route. Discussions are underway with Gulf countries and other partners to achieve this. <\/p>\n
Iran’s income from Hormuz<\/strong><\/span><\/p>\n The Islamabad memorandum talks about the future management of Hormuz. However, it does not prescribe any provision for transit fees. Iran’s new proposal is a sustainable income-generating management model. Under this, ships passing through Hormuz will pay a certain amount of money to Iran for security and environmental protection services. <\/p>\n Iranian officials believe that the opening of the Hormuz provides an opportunity to redefine the management of the sea route. Iran wants neighboring Gulf countries, especially Oman, to join the initiative and share the proceeds. Tehran is said to have presented this plan to countries like China. <\/p>\n According to reports, Iran is studying international examples to develop its proposal. Iranian officials have specifically cited the management of Turkey’s Dardanelles Strait as a model. Under the 1936 Montreux Convention, Turkey charges ships for lighthouse, salvage and cleaning services on the waterway. <\/p>\n Iran believes that a similar arrangement can be established for Hormuz. However, the two situations are fundamentally different. Legal experts say any long-term tariff regime for Hormuz would require broad international approval from the International Maritime Organization (IMO) rather than a unilateral action by Iran. <\/p>\n Oppose the United States<\/strong><\/span><\/p>\n The United States has opposed Iran’s proposal to impose tariffs. US Secretary of State Marco Rubio said on the issue of charging tariffs on Hormuz, “No country in the world has the right to charge for the use of international waterways.” This will never be an acceptable condition of any compromise. \u2019<\/p>\n Under the current US-Iran deal, Hormuz will remain duty-free for an initial 60-day implementation period. Oman has stated that any temporary shipping corridors built through its territorial waters will be exempt from transit fees and will be coordinated with the International Maritime Organization. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. The Strait of Hormuz has been opened since the end of the US-Iran war. However, Iran is now planning to stop free movement through this sea route soon. Iran is in talks with Oman and other neighboring countries to implement a plan to charge ships in Hormuz. Tehran plans to earn about $40 billion […]<\/p>\n","protected":false},"author":16,"featured_media":292963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-304813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=304813"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304813\/revisions"}],"predecessor-version":[{"id":304814,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304813\/revisions\/304814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/292963"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=304813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=304813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=304813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}