Iran’s ambassador to France, Mohammad Amin Nejad, stated that multiple nations must share the financial burden of reopening the Strait of Hormuz, a critical maritime chokepoint for global oil shipments. Simultaneously, Iran and Oman are reportedly in discussions to impose permanent passage fees on vessels transiting the waterway. The Strait of Hormuz handles about 20% of the world’s oil, and any new fee structure or prolonged disruption could significantly impact global energy markets.
During a diplomatic briefing in Paris, Ambassador Nejad emphasized that the responsibility for maintaining navigational safety cannot fall solely on Iran. “The costs of ensuring free passage cannot be borne by Iran alone,” he said. “It is a shared responsibility that requires collective action.” This call for collective financing aligns with emerging talks between Iran and Oman about a permanent toll system, which Oman’s involvement suggests may be a coordinated regional approach. However, legal experts note that such fees could conflict with the United Nations Convention on the Law of the Sea (UNCLOS), which guarantees unimpeded transit passage through international straits.
For global markets, even the prospect of new costs or restrictions raises uncertainty. Oil traders and shipping insurers are closely monitoring the situation, as any perception of supply risk typically drives up crude prices. The development adds another layer of geopolitical tension amid ongoing nuclear negotiations and Western sanctions on Iran. France, as a key EU mediator, has yet to respond officially, and the U.S., which maintains a naval presence in the region, views freedom of navigation as a core interest.
The talks are preliminary, with no formal agreement reached. However, they reflect a broader trend of nations seeking to monetize strategic geography. The outcome could reshape maritime norms and energy supply chains, with potential ripple effects across global financial markets, including cryptocurrencies, as higher oil prices feed inflation concerns and risk-off sentiment.
