Iran Plans Fees for Ships in Strait of Hormuz
Iran plans to charge ships fees to pass through the Strait of Hormuz. A formal agreement was signed that started a 60-day talk period.
The fees will begin after those 60 days end. Iran says the strait is under its control. It also rejected a European plan to send navy ships to escort vessels through the waterway.
Klear Note — The Strait of Hormuz is a narrow waterway between Iran and Oman. About one-third of world's oil passes through it daily. Iran controls the strait's Iranian side.
Key Terms 3
- Strait of Hormuz Narrow sea passage between Iran and Oman; vital global oil route
- memorandum of understanding A formal written agreement between two or more parties
- maritime fees Charges that ships must pay to pass through a waterway