Iran is seeking to dramatically reshape the future management of the Strait of Hormuz by proposing a major fee-based framework for security, safety and environmental services that could unlock up to $40 billion in annual revenue for participating countries, The Wall Street Journal reported, citing officials familiar with the proposal.
Tehran is presenting the proposal as part of a new post-conflict framework for the Gulf, arguing that the management of one of the world's most crucial energy shipping routes cannot return to the previous arrangement.
According to WSJ, Iran is engaging with Persian Gulf nations and countries including China to build support for the plan.
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Iran's chief negotiator Mohammad Bagher Ghalibaf said during a visit to Oman that the strait's management “will never return” to its earlier structure, the report said.
The proposal draws inspiration from Turkey's management of the Dardanelles, where ships pay charges known as the “gold franc” to fund services such as navigation support, sanitation and rescue operations.
Tehran believes a similar model could work for Hormuz, provided regional countries participate and share revenues.
However, the plan has faced resistance from the United States. US Secretary of State Marco Rubio said no country has the right to charge vessels for using international waterways, adding that such a condition would not be acceptable in any agreement.
The WSJ report said the recent 60-day ceasefire arrangement requires Iran to remove mines from the strait and maintain toll-free navigation.
However, Tehran has been given a role in discussions over the waterway's future administration.
The Strait of Hormuz, through which around one-fifth of global oil supplies pass, has seen shipping activity recover after the conflict ended, though some operators remain cautious.
Legal experts cited by WSJ said any fee system would likely require broad international approval and could not be imposed unilaterally.
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