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Global Business News

The Economic Times

Global Business / The Economic Times

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Iran and Oman push Strait of Hormuz fee proposal despite Washington opposition

Iran and Oman are pushing for payments from ships transiting the Strait of Hormuz, a move opposed by Washington. This proposal, inspired by the Straits of Malacca and Singapore, aims to fund maritime safety. While Oman frames it as voluntary service fees, Iran insists on mandatory tolls. A temporary peace accord guarantees free passage for 60 days, with further talks planned.

1 Jul 2026 10:22 am