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🇹🇯 Tajikistan /Economy & Trade

Iran announces first revenues from Strait of Hormuz transit fees

From Asia-Plus · (9h ago) English

Translated from English, summarized and contextualized by DistantNews.

TLDR

  • Iran has announced the collection of its first revenues from transit fees imposed on ships passing through the Strait of Hormuz.
  • The Deputy Speaker of the Iranian Parliament stated that the strait will remain open only if US pressure ceases, emphasizing Iran's right to control and tax passage.
  • The strait is strategically vital, handling approximately 20% of the world's oil trade and 35% of natural gas, with Iran asserting its role in the international economy through this control.

Iran has officially announced the successful collection of initial revenues from transit fees levied on vessels navigating the critical Strait of Hormuz. This move, detailed by Deputy Speaker Hamid Reza Haji Babaei, underscores Iran's assertive stance in controlling this vital international waterway. The collection of these fees, reportedly credited to the Central Bank's account, signifies a new phase in Tehran's strategy to leverage its geographic advantage amidst ongoing geopolitical tensions, particularly with the United States.

the first revenues from the charges for passage through the Strait of Hormuz have been credited to the Central Bank’s account.

— Hamid Reza Haji BabaeiDeputy Speaker of the Iranian Parliament, announcing the collection of fees from ships transiting the Strait of Hormuz.

Haji Babaei’s statements carried a clear warning: the continued policy of pressure and threats from the US could jeopardize the strait's openness. He articulated Iran's position not as one for negotiation, but for the assertion of its sovereign rights, emphasizing that the Strait of Hormuz rightfully belongs to Iran. The demand for all passing ships to pay taxes in the national currency, the rial, highlights Iran's intent to bolster its own economy while asserting its control. This strategic move positions Iran as a key player in the global economy, given that the strait facilitates a significant portion of the world's oil and natural gas trade.

the strait will not be open.

— Hamid Reza Haji BabaeiWarning about the continued US pressure policy.

The introduction of these charges, reportedly around $2 million for certain ships, is framed by Iranian officials as a necessary measure reflecting the costs associated with maintaining security and asserting sovereignty in this crucial maritime corridor. This development occurs against a backdrop of heightened US-Iran tensions, including US restrictions on Iranian ports and President Trump's recent statements about potential negotiations. Iran's assertion of control over the Strait of Hormuz is a powerful demonstration of its influence and its willingness to use its strategic position to its economic and political advantage, challenging established international norms and signaling a new dynamic in regional and global trade routes.

not in negotiations, but in obtaining its rights.

— Hamid Reza Haji BabaeiStating Iran's position regarding international demands.
DistantNews Editorial

Originally published by Asia-Plus in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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