A proposed arrangement between Iran and Oman that would grant Tehran authority over vessels entering the Gulf via the Strait of Hormuz is facing strong resistance from the global shipping industry.
Sources indicate the deal is not feasible, primarily because it would require payments to Iran that conflict with existing US sanctions and restrictive insurance clauses.
Under the proposal, Iran is seeking fees ranging from 5% to 7% of the value of cargoes transiting the strait, according to a senior Iranian official.
Under the proposal, Iran is seeking fees ranging from 5% to 7% of the value of cargoes transiting the strait, according to a senior Iranian official.
The rejection by major shipping companies underscores the operational and legal complexities of normalizing transit through the chokepoint.
Industry players are declining to participate in any framework that could expose them to secondary sanctions or void their insurance coverage.
This development complicates recent diplomatic efforts to stabilize shipping routes, including Iran and Oman's agreement on new shipping coordinates for the strait earlier today.