Iran confirms Strait of Hormuz service fees, rejects third-part intervention

Speaking at the World Peace Forum in Beijing on Saturday, Iran’s ambassador to China, Abdolreza Rahmani Fazli, said that Tehran is considering introducing new service fees for ships passing through the Strait of Hormuz, while promising “special" treatment for countries that supported Iran during the recent conflict.

“As a country where the Hormuz is part of its territorial waters, we will definitely charge service fees," Fazli said, while quickly adding that the charges should not be viewed as a “toll."

Meanwhile, Iran’s Foreign Ministry noted that “clearance of mines in the Strait of Hormuz is regulated by a relevant memorandum of understanding (MoU), and Tehran sees no need for third-party intervention”.

US Vice President JD Vance said oil traffic through the Strait of Hormuz has returned to its pre-war levels.

Separately, regarding peace negotiations, the country’s Parliament Speaker Mohammad Bagher Ghalibaf said Tehran will not enter into talks with the US on a final agreement until every clause of the MoU is implemented, including an end to hostilities in Lebanon and the release of frozen Iranian funds.

Market reaction

Despite these headlines, WTI – the US oil benchmark - remains on the back foot near $69 at the start of the week.