Omani Proposal for Hormuz Strait Management
The Gulf Cooperation Council meeting reports focused on enhancing navigation security in the Strait of Hormuz. The participating countries discussed an Omani proposal to Iran regarding a joint management of the strait through voluntary tolls, based on the Málaga model, which is jointly managed by Indonesia, Malaysia, and Singapore. The proposal aims to fund vessel traffic management and environmental protection through a fund contributed to voluntarily by users of the strait, with the goal of reducing tensions and ensuring smooth trade flow across the passage, while emphasizing the importance of political and diplomatic solutions. Additionally, vessel traffic through the strait has been low, with only limited increases in the passage of oil tankers through the Bab el-Mandeb Strait. According to the Iranian military, any company or state holding frozen Iranian assets is prohibited from crossing the strait.
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