Oman proposes voluntary fee model for Strait of Hormuz, Reuters reports

MUSCAT — Oman has proposed a mechanism involving voluntary fees for managing the Strait of Hormuz, Reuters reported, citing a Gulf source. The source said the plan would prevent Iran from exercising sole control over the vital waterway under the proposed framework. The proposal is modeled on the Malacca Strait system, in which transit users make voluntary contributions to finance navigational safety, environmental protection and search-and-rescue services. The plan, which has drawn regional backing, was presented as a diplomatic framework to safeguard international oil shipments passing through the strait. Oman's initiative is being discussed at the regional level, according to the report. The Strait of Hormuz is one of the world's most critical chokepoints for global energy shipments, with a significant share of seaborne oil passing through its narrow shipping lanes. No immediate response from Iranian authorities was included in the report. Further details on the proposal's scope and timeline were not immediately available.