Iran Eyes Billions in Fees for Future Hormuz Strait Operations

Iran is planning to profit from reopening the Strait of Hormuz by charging fees linked to its operation, according to a Thursday report in The Wall Street Journal. The report says Tehran estimates that payments for security, safety and environmental services in the waterway could generate roughly $40 billion a year for the countries involved.

Iranian Foreign Minister Abbas Araghchi said shortly before the report that he held a "productive" conversation with Oman. He said the two countries would hold dialogue "to define the future administration and maritime services in the Strait of Hormuz." Araghchi added, "We are determined and will do this in discussion with our neighbors."