Should Foreign Secretary Yvette Cooper urge toll-free reopening of the Strait of Hormuz?
The Strait of Hormuz handles about 20% of global oil trade. Iran has restricted passage amid US-Iran tensions and a fragile two-week ceasefire, requiring oil tankers to submit cargo details and pay tolls in cryptocurrency or USD stablecoins, around $1 per barrel, while empty vessels pass free. UK Foreign Secretary Yvette Cooper states shipping must remain toll-free, rejecting unilateral fees and calling for support of stranded ships via the International Maritime Organization.
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