Gulf Cooperation Council states have signaled support for a proposal allowing Iran to collect voluntary transit fees for ships passing through the Strait of Hormuz, according to a report from Latvian broadcaster LSM.lv citing a source in the region.
The arrangement, which reportedly requires payments in cryptocurrency, is viewed by some market participants as a potential mechanism to de-escalate tensions and restore normal shipping flows after months of disruption driven by the US-Israel conflict with Iran.
The development follows a significant shift in Washington’s posture, with the United States recently authorizing the sale of Iranian oil and moving to lift nearly all oil sanctions on Tehran.
This easing of restrictions is part of a broader diplomatic push toward a final peace agreement, aimed at securing critical energy flows through one of the world’s most vital maritime chokepoints.
The proposed toll system appears to be a compromise that allows Iran to retain some revenue from the strategic waterway while removing the threat of outright closure or seizure of vessels.
Markets have been closely watching for signs of normalization in the Strait, where shipping risk has persisted and kept a premium on energy prices.