\n<\/p>\n
Rather than introducing mandatory tolls, the proposed fund would finance key maritime services, including navigation assistance, environmental protection measures, and search-and-rescue operations.<\/p>\n
The proposal is based on a similar cooperative model used in the Strait of Malacca, where stakeholders contribute towards maintaining the safety and efficiency of one of the world\u2019s busiest maritime passages.<\/p>\n
According to The Telegraph<\/em>, the plan has reportedly received support from Oman and could provide a legal pathway forward, as international maritime law does not allow countries to impose compulsory transit fees on major international shipping chokepoints such as the Strait of Hormuz.<\/p>\n The issue is closely watched by global shipping nations, including Greece, which operates one of the world\u2019s largest merchant fleets and plays a leading role in international maritime trade. Greek-owned shipping companies are among the biggest participants in global ocean transport, making the stability and security of major sea routes such as the Strait of Hormuz a key concern for Athens and the wider shipping industry.<\/p>\n The Strait of Hormuz, located between Iran and Oman, is one of the world\u2019s most strategically important waterways, with a significant share of global oil and gas shipments passing through the narrow passage each year.<\/p>\n Any disruption to traffic through the strait has the potential to affect energy markets, supply chains, and international shipping operations.<\/p>\n