OGEJOURNAL Menu

Iran Allows Malaysian Oil Tankers Pass Through Strait of Hormuz Without Paying Fee

Iran has told Malaysia that its oil tankers can pass through the Strait of Hormuz without paying the new transit fee other ships may face.

Malaysia’s Transport Minister, Anthony Loke, said the message came from the Iranian ambassador and is linked to the good relationship between both countries.

The Strait of Hormuz is one of the most important routes for global oil and gas shipments. But since the war in the region started about a month ago, Iran has tightly controlled movement there. Only ships from countries it considers friendly are being allowed to pass.

Iran’s parliament recently approved a plan to charge ships a toll to use the strait. However, Malaysian vessels have been exempted.

Malaysia’s Foreign Minister, Mohamad Hasan, also said seven tankers linked to Malaysian companies, including Petronas and Sapura Energy, were earlier given permission to pass. The ships are now waiting for a safe time to continue their journey.

Shipping activity in the strait has fallen sharply from more than 100 ships per day to fewer than 10. Many vessels are stuck, while priority is being given to supplies heading to countries like China, India, and Pakistan.

Even with the restrictions, Iran is still exporting oil, using its main loading point at Kharg Island and moving refined fuel products.

Experts say the situation in the Strait of Hormuz is adding pressure to global oil markets because a large portion of the world’s oil and gas passes through this route