Persian Gulf states face heavy costs from proposed Hormuz tolls - WSJ

Persian Gulf countries would bear the vast majority of costs under Iran’s proposed toll system for ships passing through the Strait of Hormuz, according to a Wall Street Journal report.

The report said Iran is seeking to impose charges of up to $2 million per vessel, or about $1 per barrel of oil, in exchange for allowing passage through the strategic waterway.

Because most oil exports from the Gulf pass through the strait, countries such as Kuwait, Saudi Arabia and the United Arab Emirates would shoulder between 80% and 95% of the total cost burden, the WSJ said, citing estimates from analysts.

The proposal would have only a limited effect on global oil prices but could cost Persian Gulf exporters billions of dollars annually, while raising concerns over the principle of free maritime navigation, according to the report.