Gulf states back plan to let Iran collect voluntary fees to use Hormuz

🌐 Al-Monitor Middle East (OM) —
Gulf states back plan to let Iran collect voluntary fees to use Hormuz

AI Summary

Oman has secured backing from Gulf states for a plan allowing Iran to collect voluntary fees for use of the Strait of Hormuz. This move aims to reduce disruptions in oil trade caused by the ongoing U.S.-Israeli conflict with Iran.

By Timour Azhari and Parisa Hafezi DUBAI, July 28 (Reuters) - Oman has won backing from Gulf states for a plan that would let Tehran collect voluntary fees to use the Strait of Hormuz, a Gulf source told Reuters on Tuesday, a path towards ending the disruption to oil trade caused by the U.S.-Israeli war on Iran.

World Politics Markets Commodities Energy Shipping Strait of Hormuz Iran Oman Gulf states oil trade voluntary fees shipping route geopolitics

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