Iran to impose transit fees on Strait of Hormuz ships after fee-free period ends

Iran has announced plans to impose charges on ships transiting the Strait of Hormuz after the expiry of a 60-day fee-free period outlined in a memorandum of understanding with the United States. Iran's chief negotiator Mohammad Bagher Ghalibaf said Tehran would begin collecting fees from vessels using the narrow waterway, one of the world's most critical energy shipping routes. "We have responsibility and sovereignty over there. Naturally, there are services there and in return, there is a fee for this work," Ghalibaf said, referring to Iran's role in overseeing parts of the strait. The Strait of Hormuz connects the Arabian Gulf with the Gulf of Oman and the Arabian Sea and is a vital passage for global oil and liquefied natural gas exports. Iran has not yet disclosed details on the fee structure, implementation date, or which vessels will be affected.