The Iranian Parliament is drafting a bill to impose fees on ships wishing to safely pass through the Strait of Hormuz.
An unnamed MP revealed to Iran's semi-official Fars news agency that the bill to collect tolls through the Strait of Hormuz will be completed next week, thereby legalizing Iran's right to monitor Hormuz.
The Strait of Hormuz is a vital route connecting some of the world's largest oil and gas producers in the Persian Gulf with the world.
This important waterway has been almost closed since the US and Israel attacked Iran on February 28.
In recent weeks, only a few ships have passed through the Strait of Hormuz as Iran tightened control. Most safe ships passing through Hormuz are linked to Iran or China and a few are guaranteed safety by the Iranian Islamic Revolutionary Guard Corps.
Tehran's law will formalize a unilateral agreement that has been widely reported by the shipping industry, with an unofficial fee that ships have to pay of up to 2 million USD. The crew is required to provide information about personnel, cargo and detailed itinerary to Iran through intermediaries. In some cases, the information may include costs.
The toll collection and commitment to a safe route raise complex questions for the shipping industry, which is eager to rescue crews and cargo stranded in the Persian Gulf but also hesitant to face sanctions and security risks.
Freedom of navigation through important routes such as the Strait of Hormuz is often guaranteed by international law.
Trade through the Strait of Hormuz was disrupted, leading to the forced cessation of oil production in the Persian Gulf. Refineries in the region were also damaged in the context of the conflict. Oil prices soared, with Brent oil prices exceeding $114/barrel earlier this week.
