Major European countries believe that imposing tolls on the Strait of Hormuz is inevitable.
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Several European countries tacitly approve the prospect of charging fees in the Strait of Hormuz.
PANews reported on July 2nd, citing Bloomberg, that some major European powers have internally accepted that fees for vessels traveling through the Strait of Hormuz to Iran and Oman are "inevitable." Sources say these countries, while acknowledging the increased costs, are demanding that Iran and Oman refrain from discriminating based on vessel nationality and are pushing for the formation of an international maritime coalition to clear mines. The United States and several Gulf Arab states publicly maintain that Iran and Oman have no right to levy any fees on navigation, citing reasons including adherence to international maritime law and preventing setting a precedent for other countries. Oman, on the other hand, is using the Strait of Malacca toll fees and security fund as a reference model, seeking a balance between satisfying Iran's demands and maintaining global shipping stability.
Iran warns external countries against creating a crisis in the Strait of Hormuz.
According to BlockBeats, on July 4th, Xinhua News Agency reported that British Prime Minister Keir Starmer and French President Emmanuel Macron issued a joint statement on July 3rd, stating that both countries would cooperate with Oman to ensure the safety of shipping in its sovereign territorial waters. Iranian Deputy Foreign Minister Gharibabadi responded on the 4th, stating that the Strait of Hormuz is not a venue for military displays by external countries, and Iran opposes any military actions that could affect the security of this waterway. As the guarantor of security in the Strait of Hormuz, Iran will remain highly vigilant regarding any related military movements. The security of the Strait of Hormuz should be jointly maintained by the littoral states, and any actions that create a crisis will be subject to the consequences of the parties involved. He also emphasized that the warning was "serious."
Sources indicate that Saudi Arabia plans to expand its oil pipeline along the Red Sea, bypassing the Strait of Hormuz and increasing its daily transport capacity by 2 million barrels.
According to five sources familiar with the Odaily, Saudi Arabia is considering expanding the capacity of its crude oil pipeline to the west coast of the Red Sea, enabling Saudi Arabia and its neighbors to transport more oil without passing through the Strait of Hormuz. Built in the early 1980s, this east-west pipeline has become increasingly strategically important since the outbreak of the Iran-Iraq War in February and the disruption of shipping through the Strait of Hormuz. The pipeline can transport up to 7 million barrels of crude oil per day to the Red Sea port of Yanbu. In May, the CEO of Saudi Aramco stated that approximately 2 million barrels would supply refineries on the west coast, and about 5 million barrels would be exported. Sources say that Saudi Arabia is in preliminary discussions with some neighboring countries regarding pipeline expansion, planning to add approximately 2 million barrels of pipeline capacity per day. It is unclear whether Aramco's planned expansion involves upgrading existing infrastructure or building a new pipeline. One source said the expansion plan also includes a smaller refined oil pipeline. Two sources said the expansion could be between 1 million and 2 million barrels per day, with refined oil products also under consideration. Another source indicated that the project would take several years, cost billions of dollars, and require adjustments to Saudi Arabia's crude oil pricing mechanism. (Jinshi)
Citigroup: Oil prices could fall to $60 a barrel as the Strait of Hormuz crisis subsides.
According to Odaily Odaily, Citigroup stated that Brent crude oil prices could fall to $60 per barrel by the end of the year as the disruption in the Strait of Hormuz gradually eases, further exacerbating pessimistic expectations for the global oil market. Citigroup analyst Francesco Martoccia noted in a report: "With the receding crisis in the Strait of Hormuz, fundamentals are rapidly recovering. Shipping traffic is returning to normal, the spot crude oil market is weakening significantly, and inventory declines are far less than expected." Analysts say the initial phase "is expected to be volatile, as shipping routes need to return to normal, the insurance market needs to adjust, and remaining logistical bottlenecks need to be gradually eliminated." They also point out that "the resumption of orderly navigation patterns and the increase in traffic volume indicate that commercial operators increasingly believe the risk environment is manageable, rather than unbearable." (Jinshi)
Scholars warn: Iran is normalizing its control over the Strait of Hormuz.
According to BlockBeats, on July 3rd, Al Jazeera reported that Rob Guest Pinford, a lecturer in security studies at King's College London, stated that despite US efforts to restore normal shipping and the signing of a memorandum of understanding, Iran's actual control over the Strait of Hormuz has not only not weakened but has actually strengthened since the conflict. He pointed out that before the war, approximately 125 ships passed through the strait daily, but even after recent diplomatic efforts, shipping traffic remains significantly lower than that level. Pinford believes that Gulf states had already sought alternative trade routes before the conflict, and this trend accelerated further after the war, but Iran has consolidated its influence in this crucial waterway by continuously "creating a fait accompli." He emphasized that Iran is deepening its strategic embedding in the strait, leaving shipping companies with "no choice but to adapt" to the new landscape in practical operations. (Jinshi)
US Ambassador to the UN: Iran attempts to impose illegal fees in the Strait of Hormuz
Odaily Odaily reports: The US Ambassador to the United Nations stated that Iran is attempting to impose illegal fees in the Strait of Hormuz. The Strait of Hormuz must be open to all countries. We will not allow Iran to hold the global economy hostage. Iran's attacks on civilian vessels and obstruction of freedom of navigation have impacted global agriculture. (Jinshi)