Iran Proposes Financial Protocol for Strait of Hormuz Navigation
Iran working on Hormuz ‘protocol’ to cover ‘costs’, says Minister Gharibabadi
The Hindu
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Iran's Deputy Foreign Minister Kazem Gharibabadi announced plans to establish a financial protocol for services in the Strait of Hormuz, which have been provided free of charge for decades. He emphasized the need for cooperation among BRICS nations while addressing tensions with the U.S. and Israel.
- 01Iran plans to introduce a financial protocol for navigation services in the Strait of Hormuz.
- 02The protocol aims to cover costs associated with ensuring safe navigation and environmental protection.
- 03Gharibabadi criticized a BRICS member for obstructing joint statements condemning Iran's military strategy.
- 04He warned of potential U.S. attacks affecting marine traffic in the region.
- 05Iran seeks to maintain open navigation for Indian ships amid rising tensions.
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Iran's Deputy Foreign Minister Kazem Gharibabadi revealed that the country is developing a financial protocol for navigation services in the Strait of Hormuz, which have historically been offered free of charge. This initiative aims to cover costs related to navigation safety, pollution control, and rescue operations. Gharibabadi, speaking in New Delhi during the BRICS Foreign Ministers' meeting, criticized a neighboring BRICS member for attempting to hinder a joint statement regarding Iran's military strategies against U.S. and Israeli actions. He reiterated Iran's commitment to keeping the Strait open for Indian ships, although he warned that renewed U.S. attacks could disrupt marine traffic. Gharibabadi expressed concern over the stalled negotiations regarding Iran's nuclear program and called on friendly nations, including India, to help prevent further hostilities in the region. He emphasized that any renewed conflict would have global repercussions.
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The proposed protocol could lead to changes in shipping costs and regulations for vessels navigating the Strait of Hormuz, affecting international trade.
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