According to officials, Iran is proposing security, protection and environmental service fees for passage through the Strait of Hormuz that could generate about $40 bln a year for participating states if implemented. Officials say the plan would give Tehran cash flow and control it did not previously possess and is modelled on international precedents including the Dardanelles, where Turkey levies a transit charge known as the "gold franc." Iran is pitching the proposal to Gulf neighbours and ot

According to officials, Iran is proposing security, protection and environmental service fees for passage through the Strait of Hormuz that could generate about $40 bln a year for participating states if implemented. Officials say the plan would give Tehran cash flow and control it did not previously possess and is modelled on international precedents including the Dardanelles, where Turkey levies a transit charge known as the "gold franc." Iran is pitching the proposal to Gulf neighbours and other countries and seeks to include them in a revenue-sharing arrangement. Parliament speaker Ghalibaf visited Oman on Tuesday to discuss the proposal, saying management of the strait will not revert to the previous status quo.