Allowing Iran to Charge Fees in Strait of Hormuz Would Set Dangerous Precedent, Maersk CEO Says

Any agreement allowing Iran to charge fees in the Strait of Hormuz would set a “dangerous precedent” for global trade, Vincent Clerc, the chief executive of the shipping giant Maersk, said in an interview this week.Iran has threatened to monetize its continuing control of the strait, the door to the Persian Gulf.Now with the United States and Iran moving toward an agreement to restore transit in the gulf, whether Iran can charge for passage remains an outstanding issue.

President Trump has said that ships cannot be subject to any tolls, in accordance with international law.Iran has said it will impose fees, something that it did not do before the war.The preliminary deal, expected to be signed by both sides on Friday in Switzerland, would start a 60-day cease-fire while negotiators hash out what to do about Iran’s stockpile of highly enriched uranium, its proxy war with Israel and other issues.

Neither country has publicly released the text of the deal.Mr.Clerc, 54, said any provision that allowed Iran to charge for passage would “create, in my book, a very dangerous precedent.”“If any geographical point can be suddenly weaponized and leveraged for money, and then closed again at the whim of a certain government or authorities, of course, that’s for us — it’s a concerning development,” he said.

“You have to wonder then what’s next.”Iran’s threats have shifted how companies and countries view the world’s vital maritime points.There is no cheaper way to move goods than by sea.

But, Mr.Clerc said, “if people start to weaponize certain routes, it’s going to quickly erode this.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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