Iran has directed a temporary halt to a 10% tax imposed on foreign ships transporting liquid petroleum and gas products to and from the country, local media reported, as Tehran encounters increasing strain on its energy trade and maritime activity, Fars News Agency reported.
Reports say the measure applies to foreign vessels transporting oil and gas products. It was not immediately clear how long the suspension would last.
The reported decision comes amid rising tensions over the Strait of Hormuz, a key shipping route for global energy shipments. Due to rising military tensions and restrictions affecting commercial shipping, vessel traffic through the waterway has sharply decreased in recent days. Seven commodity vessels passed through the strait Wednesday, down from a recent 10-day average of 14, Reuters reported.
Iran has previously tried to charge fees on vessels transiting the strategic waterway, calling them charges for navigation, security and related services. In June, Tehran said it would suspend planned Hormuz transit fees for 60 days as part of a memorandum with the United States.
The latest waiver could reduce costs for foreign shipping firms transporting energy products through Iranian ports, although the overall impact on trade is unclear.
Local media reports did not immediately provide more details on the government order.
