Collecting tolls in the strait would violate a basic and enduring principle of international maritime trade: freedom of peaceful navigation. It’s an ancient idea that was codified by the United Nations’ Convention on the Law of the Sea, which took effect in 1994.
Iran’s proposal to collect tolls in the Strait of Hormuz violates trade norms
https://apnews.com/article/strait-of-hormuz-iran-tolls-oil-3ef5dcd907122922db714d318c35317e
https://substack.com/@nikolbouga/note/c-253790206
#ASubStack #StraitOfHormuz #Iran #oil #InternationalLaw #maritimeTrade #trade #tolls
To end the war with the United States and Israel, Iran is demanding the right to collect tolls in the Strait of Hormuz as a precondition for reopening the waterway vital to world oil supplies. Yet collecting tolls in the strait would violate a basic and enduring principle of international maritime trade: freedom of peaceful navigation. Opening the strait would save the global economy from supply constraints that have pushed energy and fertilizer prices sharply higher since the war began on Feb. 28. But agreeing to Iranian toll-collecting would cement the Islamic Republic’s control over the strait through which 20% of the world’s oil is shipped — and enrich the military against whom the war was launched.
Iran Confirms Cash Tolls from Strait of Hormuz Traffic
Iran's central bank received its first cash payments from ships using the Strait of Hormuz. This confirms revenue collection and impacts global energy trade.
#StraitOfHormuz, #IranTolls, #EnergySecurity, #MaritimeTrade, #Geopolitics
https://newsletter.tf/iran-strait-of-hormuz-cash-tolls-revenue/
Iran's central bank has confirmed receiving the first toll payments in cash from ships passing through the Strait of Hormuz. This is different from earlier reports suggesting digital currency use.
#StraitOfHormuz, #IranTolls, #EnergySecurity, #MaritimeTrade, #Geopolitics
https://newsletter.tf/iran-strait-of-hormuz-cash-tolls-revenue/
US SHUTS DOWN IRANIAN MARITIME TRADE AMID TALKS HINT
US ends temporary Iran oil sanction break, blocking ports. Ceasefire ends April 15. Iran seeks alternate routes. Nuclear talks stalled.
#IranSanctions, #MaritimeTrade, #CeasefireTalks, #USNavy, #StraitOfHormuz
https://newsletter.tf/us-ends-iran-oil-sanction-break-ports-blocked/
The US has ended a temporary break on sanctions for Iranian oil and blocked ports. This is a major change from last week's talks.
#IranSanctions, #MaritimeTrade, #CeasefireTalks, #USNavy, #StraitOfHormuz
https://newsletter.tf/us-ends-iran-oil-sanction-break-ports-blocked/
French Vessel Navigates Hormuz; Passage Follows Diplomatic Stir
The French-linked CMA CGM Kribi ship passed the Strait of Hormuz. This is the first Western European ship transit since Iran conflict. Learn why it matters.
#StraitOfHormuz, #CMA_CGM_Kribi, #FrenchShipping, #IranConflict, #MaritimeTrade
https://newsletter.tf/french-ship-hormuz-passage-diplomatic-stir/
A French-linked ship, the CMA CGM Kribi, has passed through the Strait of Hormuz. This is the first Western European vessel to do so since the Iran conflict began.
#StraitOfHormuz, #CMA_CGM_Kribi, #FrenchShipping, #IranConflict, #MaritimeTrade
https://newsletter.tf/french-ship-hormuz-passage-diplomatic-stir/
The Global Economy is Breaking: How 4 Ocean Chokepoints Hold the World Hostage
#Geopolitics #GlobalEconomy #SupplyChainCrisis #MaritimeTrade #Macroeconomics #SuezCanal #SemiconductorShortage #EconomicAnalysis
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