Iran Suspends Oil Transit Fee

Iran has temporarily suspended a 10% transit fee for foreign vessels transporting imported or exported oil, gas and liquid petroleum products to and from the country, the semi-official Fars News Agency reported on Thursday.

The president’s legal representative ordered the suspension of the levy until the government approves and publishes a list of products subject to the fee.

Fars said the levy had increased the cost of transporting oil, gas and liquid petroleum products, and that its suspension could lower shipping costs and encourage foreign fleets to transport goods to and from the country.

Iranian maritime oil shipments have been significantly disrupted by the US naval blockade.

(Reuters, max)