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The Economic Times

Top News / The Economic Times

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Proposed Hormuz passage deal not feasible for shipping industry, sources say

A proposed Iran-Oman deal for Strait of Hormuz control faces significant challenges. U.S. sanctions and restrictive insurance clauses impede workable payment mechanisms for transit. Iran seeks fees between five and seven percent of cargo value for passage. Oman discusses fees around three percent, while Washington opposes any charges. Shipping companies face compliance issues and potential insurance termination for paying tolls.

7 Aug 2026 12:03 am