Strait of Hormuz Toll System Proposal

proposed

The United Nations’ shipping agency warned that imposing a toll on ships passing through the Strait of Hormuz would set a dangerous precedent. The proposal for a U.S.-Iranian toll system was suggested by President Donald Trump as a joint venture to secure the waterway. The Strait of Hormuz is a critical energy choke point, carrying roughly 20 million barrels of oil a day and about one-fifth of global liquefied natural gas. Greek Prime Minister Kyriakos Mitsotakis also opposed the idea, stating it would be unacceptable for ships to pay a fee every time they cross the strait. The Trump administration had reached a ceasefire deal with Iran recently.