Tehran: Iran has temporarily suspended the 10% shipping fees levied on foreign vessels transporting energy products to and from the country, as reported by the Fars News Agency on Thursday. This decision comes in the wake of a US naval blockade that has significantly disrupted Iran’s seaborne oil exports.

According to National Iraqi News Agency, the Vice President for Legal Affairs has ordered the suspension of fee collection until the government finalizes and publishes a comprehensive list of products that will be subject to these fees. The suspension aims to alleviate the increased costs associated with transporting oil, gas, and liquid products, thereby potentially reducing transportation expenses and encouraging more foreign vessels to engage in trade with Iran.

Last August, the Iranian parliament approved an article mandating the collection of fees from ships passing through the Strait of Hormuz. This initiative was designed to regulate navigation in one of the world’s most critical waterways. The fees were intended to cover a range of services provided by Iran, including navigational and environmental services, refueling under specific conditions, and insurance and safety services.

Hassan Qashqavi, spokesman for the Iranian parliament’s National Security and Foreign Policy Committee, emphasized that the approved article focuses on the collection of “fees for services” offered by Iran to ships traversing the Strait of Hormuz. This move was part of a broader strategy to ensure that the costs of maintaining these vital services were fairly distributed among the vessels utilizing them.