"Donald Trump has made the negotiation of a ceasefire contingent on the release and opening of the Strait of Hormuz through which one-fifth of the world's oil and natural gas passes. A group of 35 countries is meeting to ensure free transit once the conflict in the Middle East comes to an end."
"The Iranian Revolutionary Guard has been imposing an informal charge with arbitrary rates of up to $2 million per ship. The Iranian Parliament approved a draft bill to make a toll in the area official, which would structurally increase the cost of fuel and other Gulf exports."
"Rajesh Verma, an analyst at the maritime trade consultancy Drewry, estimates that the toll Iran is considering could add an extra $2 to the price of a barrel of crude oil if the $2 million fees were to be officially implemented."
The Strait of Hormuz has been blocked by Iran for five weeks, prompting calls for reopening. Donald Trump links ceasefire negotiations to the strait's opening, crucial for global oil and gas transit. A coalition of 35 countries, led by the UK, is working towards ensuring free transit post-conflict. Iran's demand for a toll complicates these efforts, with the Revolutionary Guard imposing informal charges. A draft bill to formalize this toll could significantly raise transportation costs for energy and other exports from the Gulf region.
Read at english.elpais.com
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