Iran is considering charging European countries for the upkeep of the Strait of Hormuz, reports The Telegraph

• The proposal, which is not finalised, would see the creation of a “voluntary fund” financed by Gulf countries and some European members of the International Maritime Organisation.  
• Gulf and European sources said the proposed voluntary fees would help fund the cost of managing navigation, environmental protection, search and rescue and other services in the Strait.
• Oman’s plan is based on the existing arrangements for the Strait of Malacca linking the Indian Ocean to the Pacific, where Indonesia, Malaysia and Singapore ask ships to pay a voluntary contribution for services.  

Proposals to levy charges on traffic through strategic chokepoints have a long pedigree, and the framing here matters: it is being floated as a voluntary, service-based fund modelled on the Malacca arrangements rather than a toll or a closure threat, which places it in the cooperative category rather than the coercive one. The distinction the market has historically priced is exactly that: administrative cost-sharing schemes have tended to be absorbed as a marginal freight and insurance cost, while anything perceived as conditioning passage on payments re-prices war-risk premia and tanker rates for the Gulf loadings. There is a notable discrepancy between the headline attribution to Iran and the body attribution to Oman, and the initiator is material, since Muscat has a track record as a neutral intermediary in Gulf shipping matters whereas Tehran has historically used Hormuz rhetoric as leverage in sanctions and security disputes. The proposal being unfinalised, and sourced to a single press report, keeps this in the headline-risk bucket rather than the policy bucket. The tells worth noting are whether Gulf states or the IMO membership formally endorse the fund, and whether any linkage emerges to the recurring security-of-navigation debates that have surrounded the strait in past periods of tension. As it stands the mechanism, if it proceeds at all, runs through shipping costs rather than crude supply.