Iran Halts Freight Fee to Boost Oil Exports

Iran has lifted a 10% freight fee on foreign vessels transporting oil, gas, and liquid petroleum products to bolster its exports. This move comes in response to disruptions caused by a U.S. naval blockade. The news was reported by the semi-official Fars news agency.

In a strategic move to enhance its oil exports, Iran has suspended a 10% charge on freight fees for foreign vessels transporting oil, gas, and liquid petroleum products to and from the nation.

The decision, reported by the semi-official Fars news agency on Thursday, aims to alleviate disruptions in the seaborne oil export sector.

The suspension is a response to challenges posed by a U.S. naval blockade, which has significantly interrupted Iran's maritime oil trade.