Iran is proposing a new fee-based system for managing the Strait of Hormuz that it says could generate up to $40 billion in annual revenue for participating countries, according to a report by The Wall Street Journal.
Tehran is presenting the proposal as part of a broader post-conflict framework for the Gulf, arguing that the management of one of the world's most important energy shipping routes should not return to its previous structure.
According to the report, Iran is holding discussions with Persian Gulf countries and China to build support for the proposal.
Iran's chief negotiator Mohammad Bagher Ghalibaf said during a visit to Oman that the management of the Strait of Hormuz "will never return" to its previous model.
The proposal is inspired by Turkey's management of the Dardanelles Strait, where ships pay fees to fund navigation assistance, sanitation, and rescue services. Iran believes a similar system could be introduced in Hormuz, with regional countries participating in the administration and sharing the revenue.
The proposal has drawn opposition from the United States. US Secretary of State Marco Rubio said no country has the right to charge vessels for using international waterways and that such a provision would not be acceptable under any agreement.
According to The Wall Street Journal, the recently agreed 60-day ceasefire framework requires Iran to remove mines from the Strait of Hormuz and ensure toll-free navigation. However, Tehran has been included in discussions on the future administration of the waterway.
The Strait of Hormuz carries around one-fifth of global oil supplies. Shipping activity has recovered since the conflict ended, although some operators remain cautious.
Legal experts cited by the newspaper said any system of transit fees would require broad international approval and could not be introduced unilaterally.