MIDDLE EAST - According to analysts at JPMorgan, Iran and Oman may find a legally justifiable way to collect fees from ships passing through the strategically important Strait of Hormuz. The key is not a traditional toll for simply transiting the strait, but rather payments for specific navigational, security, or other maritime services.
The issue of fees for navigating the Strait of Hormuz has become central to recent international discussions about the future of this strategic waterway. According to a memorandum highlighted by JPMorgan, there are arguments in international maritime law that could allow Iran and Oman to implement a system of fees.
The fundamental problem lies in the distinction between a toll for simply transiting and a fee for a specific service. International maritime law generally protects the right of ships to transit, and directly charging for this right is legally problematic. However, if the payment is linked to, for example, navigational assistance, ship safety, escort services, or maintenance of marine infrastructure, its legal status may be different.
Financial Times +1JPMorgan points out that there is existing European practice. Denmark and Sweden charge ships fees related to transiting narrow waterways, and their structure is based on the services provided, not a traditional "toll." Similar mechanisms exist in other strategic straits. According to the bank, this principle could serve as a precedent for Hormuz.
The Strait of Hormuz is of extraordinary importance to the global economy. It connects the Persian Gulf with the Sea of Oman and represents one of the world's most important energy arteries. Any disruption to shipping traffic therefore immediately affects oil prices, natural gas prices, marine insurance rates, and transportation costs.
In July, Oman proposed a mechanism for regional management of the strait, under which shipping companies could contribute to navigational and security services. However, Iran subsequently rejected a broader model of joint regional governance and advocated for greater control over certain shipping routes.
It is important to emphasize that the legal issue has not been definitively resolved. Neither Iran nor the United States are parties to the UN Convention on the Law of the Sea (UNCLOS), which complicates the straightforward application of some of its provisions. This is why there is an intense legal and political debate surrounding potential fees.
In August, the Iranian Ministry of Foreign Affairs stated that the specific issue of transit fees was not the subject of detailed discussions in current negotiations with Oman. Therefore, any system of fees remains primarily a possibility, whose future implementation is still being discussed.