Iran’s parliament panel approves rial-based toll plan for Strait of Hormuz.
Iran moves to control one of the world's busiest oil routes — and it could shake up global energy markets.
Strait Of Hormuz – (Web Desk) – Iran’s state media reported on Monday that a parliamentary committee has greenlit a bold new plan to charge ships passing through the Strait of Hormuz — one of the world’s most critical waterways for oil and gas — which has largely been shut down amid the ongoing Middle East conflict.
According to state television, a member of parliament’s security committee revealed that the plan covers several key points: setting up a toll system in Iranian rials, reinforcing Iran’s authority over the strait, and working alongside neighboring Oman, which sits on the opposite shore.
The plan also takes a firm stance on who gets to pass through — American and Israeli vessels would be flat-out banned. On top of that, any country that has imposed sanctions on Iran would also be denied access to the strait.
Around a fifth of global crude oil and liquefied natural gas passes through the Strait of Hormuz in peacetime.
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Since the war began, crossings have plummeted by around 95 percent, according to maritime intelligence firm Kpler, with the impact felt across global energy markets.
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