Iran and Oman are planning to impose fees on ships using the Strait of Hormuz as part of a two-week ceasefire agreement, international media reported, citing a regional official familiar with the matter.
The official, who was directly involved in the talks but was not authorized to speak officially, said Iran could use the money from the fee for post-war reconstruction. However, there was no immediate explanation for the use of the money collected in Oman.
Both Iran and Oman have territorial control over the Strait of Hormuz, one of the world’s most important energy supply routes, so any new policies imposed on the strait could have a significant impact on global trade and energy markets, analysts say.
Meanwhile, the recent ceasefire announcement has seen a positive reaction in international markets. Crude oil prices have fallen and stock markets in various countries have seen an increase.