The US Secretary of State, Marco Rubio, has rejected proposals that would allow Iran or any other nation to charge commercial vessels passing through the Strait of Hormuz. His comments came at a Gulf Cooperation Council meeting in Bahrain, where he emphasized that international waterways do not belong to any nation state.
Dispute Over Transit Costs
The dispute over potential transit costs has become a central point of friction following the interim U.S.-Iran memorandum of understanding signed last week to ease the four-month-old war. Oman’s Foreign Minister, Sayyid Badr bin Hamad Al Busaidi, reinforced this position, stating that future arrangements concerning the Strait of Hormuz will not involve imposing any transit fees.
Despite the rejection of transit fees, new friction emerged on Thursday morning. Iran’s Islamic Revolutionary Guard Corps (IRGC) issued a warning insisting that the northern route designated by Tehran is the only authorized path. Following the warning, tracking data showed three oil tankers on the southern route turning back completely, while three other vessels altered course toward the north to skirt the Iranian coast.
Impact on Shipping and Oil Prices
Commercial shipping has started to ramp up under last week’s agreement, with 70 ships transiting the Strait of Hormuz on Wednesday, marking a 105% day-on-day increase. The gradual resumption of shipping has triggered a drop in global energy markets, with Brent crude falling 3.8% to $73.87 a barrel on Thursday morning.
Original reporting: Tampa Free Press — read the source article.
