Strait of Hormuz tolls could impact global livelihoods, warn shipowners

Eight major shipping associations have called on the United Nations to oppose potential tolls in the Strait of Hormuz, where Iran and Oman are reportedly negotiating management terms. In a letter to UN officials, the groups warned that introducing fees for vessel transit would breach international norms and negatively impact global trade, leading to higher energy prices and economic instability. They emphasized the importance of preserving freedom of navigation in this vital waterway, which has faced increased tensions and disruptions amid ongoing conflicts.

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