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. It’s an ancient idea that was codified by the United Nations’ Convention on the Law of the Sea, which took effect in 1994.
Opening the strait would save the global economy from supply constraints that have pushed energy and fertiliser prices sharply higher since the war began on February 28.
But agreeing to Iranian toll-collecting would cement the Islamic Republic’s control over the strait through which 20 per cent of the world’s oil is shipped and enrich the country against whom the war was launched.
US President Donald Trump has made reopening the strait a priority. But the White House said Wednesday he is opposed to tolls, and analysts say the .​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. It’s an ancient idea that was codified by the United Nations’ Convention on the Law of the Sea, which took effect in 1994.
Opening the strait would save the global economy from supply constraints that have pushed energy and fertiliser prices sharply higher since the war began on February 28.
But agreeing to Iranian toll-collecting would cement the Islamic Republic’s control over the strait through which 20 per cent of the world’s oil is shipped and enrich the country against whom the war was launched.
US President Donald Trump has made reopening the strait a priority. But the White House said Wednesday he is opposed to tolls, and analysts say the . ​Latest News [ SOBAN NEWS: International and National ]
