Iran Mulls Charging Ships to Cross Hormuz Amid Global Energy Crisis
Image Source: Internet
Iran is exploring a new law that would charge ships passing through the Strait of Hormuz, a move that could further disrupt global energy flows.
The proposed bill, expected to be finalised next week, would introduce a fee for security and oversight, creating a source of revenue for the country.
The timing of this move is significant, as the Middle East conflict has entered its fourth week, severely disrupting the Strait, through which nearly a fifth of the world's oil supply moves.
Only a limited number of ships, mainly linked to China and Iran, are currently passing through, resulting in a sharp spike in oil prices, with Brent crude crossing $114 per barrel earlier this week.
The proposal adds another layer of uncertainty to an already volatile situation, with concerns about how much higher prices could go.
