Will the Hormuz Strait Reopening Change Oil Shipping Fees? Insights from Pakistan's 4-Nation Meeting

Daniel Kim | 2026.03.30

Translation result.

[Anchor]

Pakistan, which is mediating between the United States and Iran, invited the foreign ministers of three Muslim-majority countries to a four-way meeting.

The talks focused on plans to reopen the Strait of Hormuz.

Reports say delegations delivered a proposal to the U.S. that would establish a Suez Canal–style toll system.

Reporter: Lee Ji-yoon.

[Reporter]

Pakistan, which is brokering negotiations to end hostilities between the U.S. and Iran, hosted foreign ministers from Turkey, Egypt and Saudi Arabia for a four-party meeting.

Delegates concentrated on how to reopen the Strait of Hormuz.

Ahead of the session, several countries, including Egypt, reportedly handed a proposal to the United States that would set up a Suez Canal–style transit toll regime.

Iran has proposed a similar plan to charge fees in exchange for providing security for ships transiting the strait. Officials say a final plan could be completed as soon as this week.

Analysts say that, if enacted, Iran could collect roughly 30 hundred million KRW (about $2,250,000) per transit.

Turkey, Egypt and Saudi Arabia could form a consortium to manage crude oil shipments through the Strait of Hormuz; Pakistan has reportedly been invited to participate.

Earlier, the European Union proposed using the agreement it arranged early in the Russia-Ukraine war to guarantee safe passage for grain exports from the Black Sea as a model for lifting any blockade of the Strait of Hormuz.

The meeting also addressed ways to end the wider Middle East war.

Pakistan’s foreign minister said he welcomed the U.S. and Iran expressing confidence in Pakistan’s mediation and that ceasefire talks would begin within days.

「Ishaq Dar / Pakistan’s Foreign Minister (local time, 29th)」 We are honored that Pakistan can host and help meaningful negotiations between the two sides within days. These talks aim to comprehensively and durably resolve the ongoing conflict.

He said he had also spoken with China’s foreign minister and the U.N. secretary-general, and that both officials fully support Pakistan’s initiative.

Pakistan, which has recently stepped forward to mediate, is pressing the international community for broad backing.

Reporting: Lee Ji-yoon, Yonhap News TV.

[Video editing: Yoon Hyun-jung]

[Graphics: Choi Hyun-kyu]

#UnitedStates #Iran #Pakistan #StraitOfHormuz

Yonhap News TV contact and tips: KakaoTalk/Line jebo23

Lee Ji-yoon (easyun@yna.co.kr)