Tensions between the United States, Israel and Iran continue to rise and are now having worldwide consequences. The Strait of Hormuz in particular is under pressure. This narrow passage is crucial for global energy supply. Energy prices are rising due to insecurity. Iran is now considering a striking measure: making ships pay for passage.
Iran wants to make money from strategic strait
Iran is investigating a plan to impose tolls on ships sailing through the Strait of Hormuz, Reuters news agency reports. This concerns the narrow sea route between Iran and Oman, through which a large part of world trade passes.
According to an Iranian MP, a system is being developed whereby countries will have to pay if their ships use the route. This applies not only to the transport of oil and gas, but also to food and other goods.
The Strait of Hormuz is of great importance to the world economy. About twenty percent of all oil and liquid gas passes through this passage. This makes it one of the most important junctions in the world.
The war in Iran began in late February, when Israel and the United States carried out large-scale airstrikes on targets in the country. High leaders were also killed.
Since then, Iran has stopped or disrupted several ships, especially those linked to adversaries.
An adviser to the Iranian leader, Mohammad Mokhber, said: “By using the strategic position of the Strait of Hormuz, we can punish the West and stop their ships.”
Economic pressure and impact on markets
By introducing tolls, Iran wants to use its control over the strait to generate revenue. At the same time, the country can put pressure on countries that have imposed sanctions.
However, the measure could also have consequences for energy prices. If transport costs rise, this often has a direct effect on higher prices worldwide. Europe is particularly vulnerable because it is highly dependent on energy from abroad.
In addition, Iran can determine which ships will or will not be allowed through. This gives the country a strong position in international negotiations.
The tensions in the Middle East are now visible on the financial markets and the crypto market. Israel carried out further attacks on Iran today, also hitting targets in the north of the country.
On the energy market, the European gas price shot up by 35 percent. The AEX also opened lower due to the rising oil price and is down 1.85 percent at the time of writing.
Source: https://newsbit.nl/iran-wil-scheepvaart-laten-betalen-voor-doorgang-door-straat-van-hormuz/
