Iran moves Strait of Hormuz service fee proposal forward

An Iranian parliamentary committee advanced a provision that would permit Tehran to collect service fees from vessels authorized to cross the Strait of Hormuz, according to Al Jazeera’s August 24 live coverage. The proposal covers navigation, environmental protection, insurance, security, and limited refueling services, with payments accepted in Iranian rials or another currency selected by Tehran. The measure remains part of a draft law and has not yet completed the parliamentary process.

The development came as Iran warned that ships not following its transit rules could face restrictions, fines, detention, or confiscation. U.S. Treasury Secretary Scott Bessent also announced new sanctions involving five sectors and nearly 60 Iran-linked entities, individuals, and vessels, while Washington urged allied governments to reduce economic ties with Tehran. Al Jazeera also reported that Oman’s foreign minister was scheduled to visit Tehran on August 25 for additional discussions about the waterway.

For energy markets, the strait remains central to shipping and supply expectations. The report said the U.S. Strategic Petroleum Reserve decreased by about 3.7 million barrels to 289.7 million, a level last recorded in November 1982, following releases used to support supply during months of reduced flows through Hormuz. For additional context, Guardian Energy Partners has covered Iran’s conditions for reopening the Strait of Hormuz and the latest U.S.-Iran agreement deadline.

Source: Al Jazeera
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