Iran has proposed a new plan to impose fees on vessels passing through the Strait of Hormuz, with the aim of generating up to USD 40 billion in annual revenue.

According to reports, Iran has presented the proposal to Gulf countries following a ceasefire agreement that ended 60 days of hostilities. The fees would be charged for security and environmental services provided in the strategic waterway.

The proposal is reportedly modelled on Türkiye's management of the Dardanelles Strait. Iran is also seeking support from Gulf states for the initiative.

However, the United States has strongly criticised the proposal. US Secretary of State Marco Rubio said charging fees for passage through an international waterway would be unacceptable.

The Strait of Hormuz is one of the world's most important shipping routes, with a significant share of global oil trade passing through the waterway.