Tuesday, 02 January 2024 12:17 GMT

Iran Parliament Panel Greenlights Hormuz Toll Plan


(MENAFN) A powerful Iranian parliamentary committee has greenlit a landmark proposal to impose transit fees on vessels navigating the Strait of Hormuz, escalating economic pressure on global shipping lanes already battered by weeks of regional conflict, local media reported Tuesday.

The measure, which cleared the National Security Commission, outlines a series of new regulations governing the strategic waterway, including financial provisions that would require ships to pay transit fees in Iran's national currency, the rial.

The bill's scope extends well beyond tolls. According to a news agency, commission member Mojtaba Zarei said the bill also includes restrictions barring vessels linked to the US and Israel from passing through the strait.

Additional provisions would prohibit access for countries that have joined unilateral sanctions against Iran.

The legislation faces several more institutional hurdles before it can take effect. It must pass a full parliamentary vote before being reviewed by the Guardian Council and signed by the president to become law.

The proposal emerges amid a dramatically transformed regional landscape. Hostilities ignited after Israel and the US launched a joint offensive against Iran on Feb. 28, killing more than 1,340 people, including then-Supreme Leader Ayatollah Ali Khamenei.

Iran has retaliated with drone and missile strikes targeting Israel, Jordan, Iraq and Gulf countries hosting US military assets, causing casualties and damage to infrastructure while disrupting global markets and aviation.

The Strait of Hormuz remains one of the world's most consequential maritime chokepoints, with a significant share of global oil exports transiting its waters daily — making any shift in access policy a matter of acute concern for energy markets and international trade.

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