Hormuz, Italy too reckons with the toll system imposed by Iran
Tehran has delegated the management of maritime traffic in the Strait to an ad hoc authority (Persian Gulf Strait Authority). This is a government agency, to which shipowners, including Italian ones, must apply in advance to obtain the go-ahead for transit
by Andrea Carli
Key points
While waiting for conditions to mature for a truce between the US and Iran, Tehran maintains control over the Strait of Hormuz. About 160 oil tankers, carrying 170 million barrels of crude oil, are stopped in the Persian Gulf waiting to pass through. Many seafarers are stranded on the ships. The Iranian Islamic Revolution Guards stated that 24 have crossed the Strait in the last 24 hours after obtaining their permission.
Strait management in the hands of the Iranian Authority
On 21 May, Iran institutionalised the management of maritime traffic in the Strait by an ad hoc Authority (Persian Gulf Strait Authority). This is a government agency, to which all ships, including Italian ones, must apply in advance to obtain the go-ahead for transit. Tehran has therefore 'normalised' the tolls, keeping the transits to 26 ships per day thanks to the Islamic Revolutionary Guardians Navy.
No to the Straits blockade, but permanent negotiation
This strategy could show that Iran does not aim to blockade Hormuz indefinitely - the Iranian economy would not withstand it - but to turn the blockade into a permanent negotiating tool that nevertheless generates geopolitical added value.
The scenario that emerges is one that does not contemplate an outright halt to the oil trade, but a transit regime controlled by Tehran where insurance premiums and delivery times are still likely to remain high. "Of particular concern is the condition of ships engaged in the transport of fertilisers and other strategic goods, which are currently blocked in the Gulf," stressed Confitarma president Mario Zanetti.
Not only that. Iran has threatened to block the Bab al-Mandab Strait, which connects the Red Sea to the Gulf of Aden. The truce between the US and the Houthi triggered on 6 May appears fragile. The advance of the Israelis in Lebanon (the IDF went beyond the Litani for 35 km, conquering the castle of Beaufort and bombing the southern suburbs of Beirut) could push the Yemen rebels to reactivate. In this scenario, ships would be forced to circumnavigate Africa, which would increase costs.
