On January 2, the Iranian government announced it would waive transit fees for all vessels passing through the Strait of Hormuz for a period of 60 days, effective January 3. This is Tehran's latest move to reduce economic pressure and promote international maritime trade.
According to a statement from Iran's Ministry of Oil, the decision was made following consultations with maritime and energy agencies, aimed at supporting import-export activities amid global oil market volatility. The Strait of Hormuz, one of the world's most strategic maritime waterways, accounting for about 20% of globally transported crude oil, has frequently been affected by sanctions and regional instability.
Analysts suggest the transit fee waiver could help defuse tensions between Iran and some Gulf states, while reaffirming Tehran's central role in controlling maritime traffic in the region. Energy experts predict the move will have a positive short-term impact on oil prices and supply chains.
There has been no official reaction from major maritime powers such as the United States or Saudi Arabia to Iran's decision. However, observers expect stakeholders to closely monitor developments at the Strait of Hormuz in the coming days.
