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Iranian Parliament Reviews Bill to Fine Violating Vessels Up to 20% of Cargo Value in Strait of Hormuz
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The Iranian parliament is reviewing a draft bill titled 'Strategic Action to Ensure the Security and Sustainable Development of the Strait of Hormuz and the Persian Gulf.' The bill explicitly stipulates that vessels found in violation of its provisions will face a fine of up to 20% of the value of their cargo. The legislation aims to enhance security and promote sustainable development in the strategically critical waterway, through which a significant portion of global oil shipments transit. The draft is currently under parliamentary consideration, and its final form and enactment timeline remain uncertain. The reported penalty is notably high, potentially impacting shipping costs and maritime traffic in the region if the bill becomes law.
Source report
Iran's parliament is currently reviewing a draft bill titled "Strategic Action to Ensure the Security and Sustainable Development of the Strait of Hormuz and the Persian Gulf."
The proposed legislation includes a clear provision stipulating that violator vessels may face fines of up to 20% of the cargo value.
Source
domesticRegional