NDTV·1 min read·medium
Iran Confirms Hormuz Transit Fees, Offers "Special Treatment" For "Friends"
✦AI Summary
Iran has confirmed the implementation of transit fees for vessels passing through the Strait of Hormuz, while offering preferential treatment to friendly nations. This follows the closure of the vital energy corridor during the ongoing Middle East war.
The strait normally carries one-fifth of the world's crude oil and liquefied natural gas, but it was all but closed by Iran during the Middle East war, sending energy prices soaring.
economyworld
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