The football magnate who says he is ready to pay the transit fee through the Strait of Hormuz demanded by Iran. “For me, it's better”
Evangelos Marinakis, who owns more than 150 ships, says paying the toll through the Strait of Hormuz can cover the “damage” caused to Iran.
Greek shipping tycoon Evangelos Marinakis has said he is prepared to pay Iran a transit fee to keep the strategic Strait of Hormuz open and that the fee can help compensate Iran for the “damages” caused by the US-Israeli war against the Islamic Republic, writes the Financial Times (FT).
“For me, it's better to pay a fee of $100,000 or $200,000, depending on the size of the cargo or the size of the ship, than to have all this hassle,” Marinakis said at a TradeWinds News forum at the Posidonia maritime event in Athens on Tuesday.
Marinakis, who owns more than 150 ships – including oil tankers, liquefied natural gas (LNG) carriers and other cargo ships – said the money from the tax “can cover all the damage caused by the events so far”, according to Middle East Eye (MEE).
Marinakis also owns Nottingham Forest and Olympiacos Piraeus football clubs.
Marinakis' comments have put the tycoon at odds with both the Trump administration and the Greek government.
Greek Prime Minister Kyriakos Mitsotakis told the FT in May that Iran should not impose a toll on this key waterway for international trade, which before the Middle East conflict carried around 20% of its crude and LNG shipments. Greek families dominate global shipping, and Greek shipowners control about 20% of the world's fleet.
Another Greek shipping tycoon, George Procopiou, said this week, also at the Posidonia Forum, that Greek sailors have a tradition of “breaking blockades”, but he rejected any effort to introduce a toll.
Procopiou's company, Dynacom, is one of the few that has been able to send ships through the Strait of Hormuz so far during the war, taking advantage of higher shipping rates.
A shipowner familiar with the matter previously told Middle East Eye that the ships had paid transit fees to Iran, with the fares being paid in Chinese yuan.
Iran has consistently insisted on its right to impose a toll in the Strait of Hormuz as part of any deal to end the war. Tehran has tried to win Oman over to its side, the latter being the only other country whose territorial waters extend across the strait.
Under the United Nations Convention on the Law of the Sea, countries can claim up to 12 nautical miles for their territorial waters. The Strait of Hormuz is only 21 nautical miles wide at its narrowest point.
Countries whose coasts border international straits are prohibited from restricting transit through their territorial waters or levying tolls.
But legal experts told MEE that there are numerous examples Iran could use, from “pilotage fees” to “service fees” to charge ships with tariffs, if Oman cooperates.
The United States has so far rejected any attempt by Iran to impose a toll on this strategic sea route.
