Turkey, Egypt, and Saudi Arabia Proposed Creating a Consortium to Manage Oil Flows Through the Strait of Hormuz-on the Model of the Suez Canal

Following talks with Iran held in Pakistan, Turkey, Egypt and Saudi Arabia passed on proposals to the United States aimed at reopening the Strait of Hormuz, Reuters reports, citing sources.

Pakistani sources cited by the agency say discussions are under way on introducing a fee system modeled on the Suez Canal. Under this framework, Turkey, Egypt and Saudi Arabia could form a consortium to oversee oil flows through the strait.

According to those sources, the initiative has already been discussed with Washington and Tehran—the commander-in-chief of Pakistan’s army had been in regular contact with Vice President JD Vance.

Against this backdrop, Boroujerdi, a member of Iran’s parliamentary national security committee, said passage through the Strait of Hormuz would become subject to charges under a new Iranian law.

Pakistan’s foreign minister also said Islamabad had been informed of the possibility that talks between the United States and Iran could be held on its territory.