The Iranian Parliament Approves Imposing a Toll on the Strait, to Be Paid in the Iranian Currency

BlockBeats News, March 31st, Monday local time, the Iranian parliament passed a bill proposing to impose a transit fee on ships passing through the Strait of Hormuz. The transit fee for an oil tanker could be as high as $2 million. According to Iranian media citing an official from the Iranian parliament’s National Security and Foreign Policy Committee, the new navigation control plan also includes a ban on ships related to the United States, Israel, or countries that have previously unilaterally sanctioned Iran from passing through the channel, while the transit fees must be paid in Iranian rials. Iran will cooperate with Oman to establish the relevant legal framework. Shortly before the bill was passed, the White House stated that the United States does not support Iran’s imposition of transit fees. (FXStreet)