Proposed Hormuz passage deal not feasible for shipping industry: Report

Proposed Hormuz passage deal not feasible for shipping industry: Report A proposed deal between Iran and Oman that would give Tehran control over ships entering the Gulf through the Strait of Hormuz is not easily workable due to US sanctions and restrictive insurance clauses on any payments, four industry sources told Reuters. Under the latest proposal, Tehran would be able to intervene if necessary with any inbound traffic, while outbound traffic would follow a route between Iran and Oman, with exit clearance granted through Oman after notifying Iran, a senior Iranian source told Reuters this week. Introducing compulsory charges through the strait for transit or service fees was "a toll in all but name", the world's leading shipping associations said in an open letter, which was sent to the UN's shipping agency.