Traders Warn Iran Tolls Risk Setting Global Trade Precedent

Shipping executives at two of the world’s biggest commodity traders said they’re concerned Iranian tolls on the Strait of Hormuz set a dangerous precedent for the free flow of global trade.

Iran has sought to charge some vessels for safe passage through the waterway since the Middle East war began at the end of February, sparking outcry from the world’s shipping watchdog. Tehran drafted laws to govern transit, including the collection of fees, the semi-official Fars news agency reported last month.