Home Economy Iran collects revenue from Strait of Hormuz transit fees for first time

Iran collects revenue from Strait of Hormuz transit fees for first time

The Iranian coast far below us. © Photo/ BU: Dr. Peer Schmidt-Walther, taken in November 2013

Teheran, Iran (Weltexpress). The Iranian authorities have received revenue from tolls for ships crossing the Strait of Hormuz for the first time, Parliament Deputy Speaker Hamid Reza Hajibabai said.

“The first revenue received from tolls in the Strait of Hormuz has been transferred to the Central Bank’s account,” the Fars news agency quoted him as saying.

Iranian Foreign Minister Abbas Araghchi had previously reported the opening of the Strait of Hormuz to commercial vessels. In turn, US President Donald Trump stated that Washington would maintain the blockade of Iranian waters until a final agreement is reached. After that, the Iranian Armed Forces said that they had closed the strait until the American naval blockade was fully lifted. The army urged vessel owners to comply exclusively with Iranian recommendations and characterized Trump’s statements about the situation in the Strait of Hormuz as “untrustworthy.”

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