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News India Live, Digital Desk: Amidst the fire of war burning in West Asia, Iran has taken a strategic move which has increased the concern of the entire world including America and Israel. Iran has taken a major decision to collect ‘toll tax’ from commercial ships passing through the world’s most important trade waterway ‘Strait of Hormuz’. This aggressive move by Iran will not only affect the global supply chain, but has also given rise to the fear of a huge increase in the prices of petrol and diesel across the world.
New toll policy gets green signal from Parliament, strict ban on America-Israel
According to Iranian state media reports, the National Security Committee of Iran’s parliament has officially approved this new management plan on Monday. Under this strict plan, ships with American and Israeli interests have now been completely banned from passing through this important waterway. Along with this, ships of all those countries which took direct stand against Iran during the war have also been given ‘no-entry’ in Hormuz. The new policy provides for strict safety rules, environmental protection measures and strict implementation of the toll collection system based on the Iranian currency (Rial).
A big threat looms on the supply chain of crude oil and LNG
The Strait of Hormuz, connecting the Persian Gulf to global markets, is considered the lifeline for the supply of crude oil and liquefied natural gas (LNG) in the international market. Due to the war, Iran has already stopped the movement through this route to a great extent, due to which the production of oil exporting countries has been heavily affected. Economic experts believe that due to the blockade and now this new toll tax system, transportation costs will increase manifold, the direct effect of which is being seen in the form of rising fuel prices across the world.
Donald Trump turns towards diplomatic pressure, hints at ending the war?
On one hand, Iran is continuously taking aggressive decisions, while on the other hand, there are signs of change in America’s stance. According to the latest report of ‘The Wall Street Journal’, US President Donald Trump’s attitude now seems to be softening. Trump, who was earlier threatening to destroy Iran’s Kharg Islands and oil wells if the Strait of Hormuz is not opened, is now telling his allies that he is ready to end the war without forcibly opening the Strait of Hormuz. The US administration estimates that launching a new military operation to open Hormuz will drag the war far beyond the scheduled time. In such a situation, instead of aggressive military action, America is now adopting the strategy of restarting the free flow of trade by putting diplomatic pressure on Tehran.
