""Freedom of navigation is the foundation of international maritime trade - the ability to go through these areas without any form of obstruction," said Robert Huebert, an international relations expert."
"Iran's reported fees for safe passage through the Strait of Hormuz are part of a 'new sovereign regime' aimed at covering war costs, according to lawmaker Alaeddin Boroujerdi."
The Iran war has led to significant profiteering, with fuel retailers raising prices and oil companies benefiting from high crude prices. Marine insurers have increased war-risk premiums dramatically. Iran has reportedly begun charging up to $2 million per ship for safe passage through the Strait of Hormuz, a critical global chokepoint for oil and gas. This move has been framed by Iranian officials as a way to cover war costs, but it raises concerns about breaches of international maritime law regarding freedom of navigation.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]