Home » Strait of Hormuz Toll Would Establish a Troubling Precedent, IMO Warns

Strait of Hormuz Toll Would Establish a Troubling Precedent, IMO Warns

The International Maritime Organization, a key component of the United Nations, has sounded the alarm over the potential introduction of a toll for the Strait of Hormuz, a critical waterway through which 20 percent of the world’s oil and liquefied natural gas (LNG) is transported. According to IMO officials, such a move would have far-reaching implications and set a concerning precedent.

A representative for the IMO emphasized that no international agreement currently exists that allows for the imposition of tolls on ships transiting international straits. This stance is rooted in the UN Convention on the Law of the Sea, which has been adopted by IMO member states. Under this convention, ships are granted the right to pass through international straits without hindrance.

The warning from the IMO comes in response to reports from Iranian media suggesting that Iran is contemplating the imposition of fees ranging from $2 million per vessel to $1 per barrel of oil, with a portion of the revenue potentially shared with Oman.

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