Hormuz Strait Will Be Open, But with Transit Fees

• The Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit ​fee, Iran's ambassador to Moscow was quoted as saying.
• The U.S.-Israeli war on Iran has largely cut oil flows via the strait, which, before the conflict, saw one-fifth of the world's oil pass through. Several tankers ​have managed to leave the Gulf recently, but oil and liquefied natural ​gas flows are still severely constrained.
• Iran has asserted that a permanent peace deal ​should allow it to demand fees for ships passing through the strait, which ‌would ⁠vary depending upon the type of ship, its cargo and prevailing conditions.
• However, U.S. President Donald Trump vehemently opposes that position. In late May, the U.S. warned Oman not to get involved in any effort with ​Iran to impose ​a toll, and ⁠Treasury Secretary Scott Bessent said Oman's ambassador had told him there were no plans to impose such ​tolls.

(Source: Reuters)