ANKARA

With the Strait of Hormuz largely blocked, impacting the world economy, Iran’s parliament is preparing to pass a law that would impose fees on ships for “safe passage” through the waterway, according to Iranian media.

Citing a member of the parliament’s economic committee, the semi-official ISNA news agency reported Saturday that a bill has been prepared to charge vessels transiting the strategic strait.

Saeed Rahmatzadeh said imposing fees on maritime passage through straits is “a common practice in many important sea lanes around the world.”

He added that the measure could help boost Iran’s revenues and improve maritime security and services along the route.

On March 2, Iran announced restrictions on navigation in the strait, warning that it could target ships trying to go through without coordination, in response to ongoing US-Israeli attacks.

Around 20 million barrels of oil pass daily through the strait, making it one of the world’s most critical energy chokepoints. The current disruption has already driven up shipping and insurance costs and raised global economic concerns.

On Friday, Iranian Foreign Minister Abbas Araghchi said Tehran had supported other countries in ensuring transit through the strait, adding that safe passage could be achieved if states such as Japan coordinate with Iran.

The US-Israeli strikes on Iran began on Feb. 28, with Tehran retaliating with repeated drone and missile strikes targeting Israel and Gulf countries hosting US military assets.

*Writing by Rania Abushamala in Istanbul.