Iran Proposes $40 Billion Annual Toll for Hormuz Strait; U.S. Rejects

According to U.S. media reports, Iran proposed charging all vessels transiting the Hormuz Strait an annual passage fee that could generate up to $40 billion in revenue, on Thursday, June 26. The proposal came after Iranian Revolutionary Guard forces attacked a cargo ship in the strait. U.S. Secretary of State Rubio rejected the toll proposal, reassuring Gulf nations that the U.S. would not accept any passage fees.
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