&imwidth=800&imheight=600&format=webp&quality=medium "Iran proposes joint Hormuz toll plan with Gulf neighbours to share $40 billion revenue")
Iran is pushing a proposal that could allow it to generate billions of dollars annually from the Strait of Hormuz, one of the world's most important oil shipping routes, according to officials familiar with the matter cited by The Wall Street Journal.
The proposal would require ships passing through the strait to pay for "security, safety and environmental services." Iranian officials estimate the arrangement could generate about $40 billion a year for the participating countries. If implemented, the plan would provide Tehran with a new source of revenue and greater control over the strategic waterway than it had before the war.
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Iran seeks regional backing for the proposal
According to Iranian officials, Tehran is presenting the proposal to countries across the Middle East and as far as China to build support. Iran also wants its Persian Gulf neighbours to join the arrangement and share the revenue.
Iran is studying similar systems used elsewhere, including the Dardanelles, where Turkey charges ships a passage tax known as the "gold franc" for travel between the Aegean Sea and the international waterway.
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The proposal follows Tehran's declaration that the Strait of Hormuz would not return to its pre-war status and that ships using the route would have to pay a fee. The waterway carries nearly 20 per cent of the world's energy supply.
"Everyone should know that management of the strait will never return to what it was before," Iranian parliament speaker Mohammad Bagher Ghalibaf, who leads Iran's negotiating team, said during a visit to Oman on Tuesday, where he discussed the proposed arrangements with the country across the strait.
However, the United States has rejected the proposal. Speaking during his visit to the Middle East this week, US Secretary of State Marco Rubio said imposing fees on international shipping would set a dangerous precedent.
"No country in the world has the right to charge for the use of international waterways, and that will never be an acceptable condition in any agreement," Rubio said in Bahrain.
He also said Persian Gulf states had opposed the proposal to charge ships for passage through the Strait of Hormuz.
