Shipping executives fear the US-Iran peace agreement has cleared the path for charges to be introduced on the Strait of Hormuz after 60 days, setting a new regime for the waterway that was previously free to use.
Under the terms of the accord signed on Wednesday, Iran will negotiate with Oman and other Gulf states over the “future administration and maritime services in the Strait of Hormuz”.
The shipping industry is concerned the language opens the door for Iran to charge for use of the waterway or to start a fund similar to that used for the Strait of Malacca, which runs between Malaysia, Indonesia and Singapore.
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