Iran: Proposed legislation to impose transit fees on vessels passing through the Strait of Hormuz.

In the early hours of March 26 local time, the Chairman of the Civil Committee of the Islamic Consultative Assembly of Iran stated that Iran is promoting the legislation of a relevant bill, aiming to legally safeguard the country's sovereignty, control, and regulatory authority over the Strait of Hormuz, while also increasing national fiscal revenue by imposing tolls on passing vessels.

It is reported that the draft of the bill has been preliminarily formulated, but a complete plan has not yet been finalized. According to the plan, the draft will be submitted to the Research Center of the Iranian Parliament next week for further refinement with the participation of legal teams. It will be formally submitted for deliberation after the parliament convenes, and relevant departments will continue to follow up on the progress of the proposal.

Based on the core content of the bill, Iran will impose tolls on all vessels passing through the Strait of Hormuz. As the only maritime passage from the Persian Gulf to the Indian Ocean, the Strait of Hormuz is one of the world's most critical energy transportation hubs, handling approximately one-third of global seaborne crude oil trade and 20% of liquefied natural gas trade. It is often referred to as the "world's oil valve," and its navigational conditions directly impact the stability of the global energy market.

Iran has previously emphasized its sovereignty over the Strait of Hormuz on multiple occasions. This proposed legislation to impose tolls is both a measure to uphold its sovereignty and an attempt to open up new sources of fiscal revenue. Currently, specific details such as the toll collection standards and implementation rules have not been disclosed. Further developments will depend on the outcomes of subsequent deliberations by the Iranian Parliament.