Iran introduces new fee system for vessels crossing Strait of Hormuz

Central Bank of Iran has opened accounts in four currencies to collect fees from ships transiting the Strait of Hormuz, as part of measures aimed at strengthening control and security over the strategic waterway.

The statement came from Alaeddin Boroujerdi, a member of the National Security and Foreign Policy Committee of Iran’s parliament (Majlis), according to the ILNA news agency.

“One of the strategic achievements of the recent period, also recognised by Western and American analysts, has been the absolute dominance of the Islamic Republic of Iran and its armed forces over the Strait of Hormuz. Today, we openly state that no vessel has the right to pass through this strategic waterway without permission from the naval forces of the Islamic Revolutionary Guard Corps (IRGC). (...) Central Bank, in the framework of implementing this policy, opened four special accounts in national currency, rial, yuan, dollar and euro. In accordance with established instructions, fees collected by the naval forces of the Islamic Revolutionary Guard Corps will be transferred to these accounts. Until the final adoption of the law in parliament, this measure will be applied as a practical procedure. (...) Given the misuse by the United States of regional bases and threats to the national security of Iran, the application of strict rules and a ban on the passage of hostile military vessels is our legitimate right. On the other hand, this project will become a stable source of income for the country. We hope that with the final adoption of the infrastructure of digital currency and the obligation of countries to pay fees in rials, we will witness unprecedented strengthening of national currency in international settlements,” Boroujerdi said.

According to him, the plan was approved immediately after the parliament resumed its work.

By Tamilla Hasanova