Upon the signing of this M.O.U., the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman, and vice versa. The traffic of commercial vessels will immediately start, and considering the need for removing the technical and military obstacles and demining by the Islamic Republic of Iran, will be instated within 30 days. The Islamic Republic of Iran will conduct dialogue with the Sultanate of Oman to define the future administration and maritime services in the Strait of Hormuz, in discussion with other Persian Gulf littoral states in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz.
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Literally saying Iran can charge tolls for any traffic thru the strait…
That’s a fucking huge amount of economic power, and everyone has to pay whatever they demand
It’s also a potential catalyst for more countries imposing tolls on the straits they control, the way they used to do in the past. If that ever happens it’d put a huge strain on global commerce.
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Literally saying Iran can charge tolls for any traffic thru the strait…
That’s a fucking huge amount of economic power, and everyone has to pay whatever they demand
It’s one they have to exercise judiciously. Too high a toll and you just encourage the building of pipelines to get the oil out by land.
It’s also a potential catalyst for more countries imposing tolls on the straits they control, the way they used to do in the past. If that ever happens it’d put a huge strain on global commerce.