The USA-Iran negotiations are taking place against the backdrop of tensions in the Strait of Hormuz, where Tehran could impose a huge tax on oil tankers. The stakes are control of a vital route and the impact on global energy prices.
The future of this narrow waterway – as well as the limitation of the Iranian nuclear program – is at the center of discussions, after the blockade instituted by Tehran on oil and gas transports through the strait led to an increase in energy prices.
Iran’s plan to maintain control over traffic, charging a fee of 2 million dollars for each oil tanker transiting the area, has sparked fears that this “tax barrier” could keep prices high for years to come, writes The Guardian.
What taxes does Iran want to impose?
In the 10-point peace plan proposed by Tehran, there is a provision according to which Iran and Oman could charge a fee of up to 2 million dollars for each ship crossing the strait, according to information appeared in the press. Iran maintains that the funds would be used for reconstruction.
The idea that safe passage through this route should be allowed only under Iranian military control has been harshly criticized by Washington and economic analysts. The plan has already been tested earlier this month. According to reports, Tehran has asked oil tankers to provide details about the cargo, destination, and the final owner, before paying a fee of at least 1 dollar per barrel.
In the case of a regular oil tanker, which carries about 2 million barrels, the fee amounts to 2 million dollars for a single passage, a sum that should be paid in Chinese yuan or cryptocurrencies. After approval, ships of the Revolutionary Guards would escort the oil tanker through a narrow corridor, close to the southern coast of Iran.
So far, ships from Malaysia, China, Egypt, South Korea, and India have been among those granted transit permission. It is unclear whether they have actually paid this fee.
Details, HERE