Tehran announces new fees for vessels in the Strait of Hormuz, citing territorial rights, while dismissing third-party involvement in mine clearance.
Iran will introduce service fees for ships transiting the Strait of Hormuz, its ambassador to China said, framing the charges as a sovereign right rather than a toll. The move follows recent tensions but excludes countries that supported Iran during the conflict from standard rates.
The Foreign Ministry reiterated that mine clearance in the strait is governed by an existing memorandum of understanding, rejecting external intervention. US Vice President JD Vance noted oil traffic through the strait has stabilized at pre-war levels.
West Texas Intermediate crude held near $69 early Monday, showing limited reaction to the announcement. Analysts cite ample supply and muted geopolitical risk premiums as key factors in the benchmark’s stability.