Tehran: The ceasefire agreement between the US and Iran includes a proposal that reportedly allows Iran and Oman to charge transit fees on ships passing through the Strait of Hormuz, according to media reports.
The Strait of Hormuz is a slender stretch of water between Iran and Oman, which is a crucial gateway for world’s oil supply. Roughly a fifth of the world’s oil supply passes through this route, besides other essential goods.
The ceasefire has been proposed to end a 40-day conflict. Tehran has conditionally agreed to reopen the strait. The waterway had remained effectively closed during the hostilities. There had been attacks on vessels disrupting transit and increasing global oil prices.
The proposed fee structure would depend on the type of ship, its cargo, and other prevailing conditions, Reuters reported. The fees would vary, as per the report.
Further discussions on the future of the Strait and other are expected to take place in talks between the US and Israel, scheduled in Islamabad on Friday.
