pepeath

According to Reuters: The U.S. Securities and Exchange Commission (SEC) may be poised to approve Ether exchange-traded funds (ETFs). Aas per four sources familiar with the process, the SEC asked exchanges such as Nasdaq, CBOE, and NYSE to refine their applications for spot Ether ETFs. This unprecedented move comes as a surprise to an industry braced for rejection.

Ether's price soared by as much as 18% on Monday due to this development and was up another 8.6% at $3,802 late Tuesday morning.

The SEC is expected to make a decision on applications to list Ether ETFs by VanEck and ARK Investments/21Shares — submitted via CBOE — by the end of this week. Although there was initially no engagement between the SEC, exchanges, and issuers on the application specifics, the regulator's recent request for updates indicates potential approval.

Despite growing optimism, these issuers still need SEC approval on the ETF registration statements before trading can commence. There's no set time frame for this, meaning Ether ETFs may take several months to begin trading.

The SEC's move represents a potential triumph for the cryptocurrency industry, given the regulator's historical hesitance amid concerns around market manipulation, especially overseen by crypto skeptic, Gary Gensler. The first Ether ETF applications were filed after the SEC approved ETFs tied to Ether futures in October, but rejection was expected due to discouraging encounters with the regulator. Last year, however, the SEC was compelled to approve Bitcoin ETFs following a successful court challenge by Grayscale Investments. This paved the way for significant buying interest, with two new Bitcoin funds attracting over $1 billion in assets within the first week.

Israel and Lebanon have announced a 10-day ceasefire to allow negotiations for a more permanent security and peace agreement to continue.
The truce was announced by United States President Donald Trump on Thursday and came into effect at 21:00 GMT.
The ceasefire follows six weeks of fighting between Israel and the Iran-backed Lebanese group, Hezbollah. In its war on Lebanon, Israel has killed at least 2,196 people and displaced more than one million.
But on Friday morning, Lebanon’s army reported several ceasefire violations by Israeli forces.
Will the ceasefire last? What are its terms? Here’s what we know:
Announcing the ceasefire on Thursday, Trump called it a “historic day”.
In a post on Truth Social, he said, “May have been a historic day for Lebanon. Good things are happening
According to a statement released by the US State Department on Thursday, under the terms of the ceasefire agreement, Israel will “preserve its right to take all necessary measures in self-defence”, while not carrying out “any offensive military operations”.
The statement suggested that Israel can also exercise this right “at any time, against planned, imminent, or ongoing attacks
“This shall not be impeded by the cessation of hostilities,” it added.
I hope Hezbollah acts nicely and well during this important period of time. It will be an GREAT moment for them if they do,” Trump wrote in his Truth Social post
Trump said that the 10-day truce includes Hezbollah.
“No more killing. Must finally have PEACE
On Thursday, after announcing the ceasefire, Trump said a deal to end the war on Iran was “very close” and that peace talks may resume with Tehran in Pakistan’s capital Islamabad as early as this weekend.
Iran’s Foreign Ministry has also welcomed news of the ceasefire in Lebanon, according to Iranian state media, and framed the truce as part of a broader agreement with the US to pause the regional conflict.
Chris Featherstone, a political scientist at the University of York, noted that, so far, Iran has held firm on its negotiation position that the ceasefire between Tehran and the US and Israel should include a ceasefire between Israel and Lebanon.
This deal between Israel and Lebanon could represent a move to set the ground for further US-Iran negotiations, removing a sticking point to further negotiations,” he told Al Jazeera.
However, Featherstone pointed out that this could also be another example of Trump seeking to take credit for a negotiated truce
His manoeuvres to gain attention for ‘ending wars’ as part of his campaign to be awarded the Nobel Peace Prize have previously led Trump to claim that he has ended numerous conflicts, real and imagined,” he said.His manoeuvres to gain attention for ‘ending wars’ as part of his campaign to be awarded the Nobel Peace Prize have previously led Trump to claim that he has ended numerous conflicts, real and imagined,” he said.
“This could be another example of this Trump-style claiming credit,” he added
Nader said that while the ceasefire may be influenced by broader US-Iran dynamics, it should be viewed as a “distinct” issue.
“Iran does retain leverage in the region through its proxy, Hezbollah, which can affect the timing and intensity of escalations,” he told Al Jazeera
“However, the Lebanese track remains fundamentally and legally distinct and should be understood on its own terms. It is not directly tied to issues such as Iran’s nuclear programme or ballistic capabilities,” he explained
“Rather, it revolves around bilateral concerns between Lebanon and Israel, including land border delimitation, security for residents on both sides of the frontier, and maritime border issues
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A former NHS gynaecologist who was being investigated over allegations he carried out procedures on women without their consent has died
A report released in 2025 found Daniel Hay's risky practices and shortcuts had contributed to women suffering physical harmDerbyshire Police launched an investigation and dismissed six complaints in January, but stated no decision had been made on 30 remaining.
Derbyshire Police launched an investigation and dismissed six complaints in January, but stated no decision had been made on 30 remaining cases
A force spokesperson confirmed Hay died of natural causes in hospital and added: "The force is now reviewing what this latest development means for the investigation moving forwards
Hay, who had been interviewed under caution in March last year, joined University Hospitals of Derby and Burton NHS Foundation Trust (UHDB) in 2005
He had operated on hundreds of women before he retired in 2020 due to ill health
The report, which had been commissioned by the Gynaecology Review Steering Group, scrutinised his care between 2015 and 2018
It followed concerns raised by colleagues and found failings in his practices, how he was managed, and added that only "good fortune prevented further harm
It added that his consent process was poor, his record-keeping inadequate, and he was often dismissive with patients
Issues it identified included women who had undergone a hysterectomy – a surgical procedure to remove the womb – some of whom felt it was their only option, despite less invasive options being potentially available
Of these, 48 cases were rated red – for major concerns - 68 were amber for some concerns, and 209 were green, where no concerns were identified
In total, the report scrutinised 325 women who were under his care.
Police spoke to Hay about procedures carried out at Royal Derby Hospital and Ripley Hospital.
A spokesperson for Derbyshire Police added: "We will continue to keep in contact with all those involved as the review continues.
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A woman who was secretly filmed in her own home has said the experience has "taken over her life" and left her feeling unsafe
Lucy Domaille, from Guernsey, has waived her anonymity as the victim of a sexual offence to speak publicly about the impact voyeurism has had on her and her family
I don't sleep," she said. "Every noise, every time the door opens, you just feel like someone is watching you 24/7
It's taken over my life completely. It's consumed my mind."
In October last year, Guernsey Police told Lucy she had been the victim of voyeurism
A man she had known socially for about 25 years had secretly filmed her getting out of the shower at her home, through a gap in her curtains as he crouched outside her window.
For Lucy, the incident has occupied her every waking thought since
She said: "I'm just not the same person. It's soul-destroying, it's torturous
When you go home, that is supposed to be the place that you feel safe, and I've lost that completely," she explained.
It has also stripped her of her safety.
I'm obsessed. I don't sleep... I have lost all of that."
Lucy was walking round a supermarket when her husband called her to tell her two plain clothes officers were at their home and asking to speak to her.
She later learned she had been a victim of Kirk Bishop, whose crimes she had first seen reported in a social media post by Guernsey Police the previous month.
She said the "emotional trauma" of it meant she was "not the same person - I don't think I ever will be".
As a mother of two young children, she said it had also changed the way she interacted with them at home.
She said: "Sometimes a child gets out of a bath and they'll run down the hallway to their bedroom with no clothes on. I don't want that now.
They've taken away my children's innocence. I'm constantly making sure they're covered."
If you are changing a law based on a crime that someone has committed, surely they should be punished in line with that?" she said.
Bishop is due to be sentenced on 15 May.
Lucy concluded: "One of the best things about Guernsey was that you felt safe. I've lost all of that."
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At its core, @Pixels is a social farming and exploration game built on blockchain technology, allowing users to grow crops, complete quests, and interact in a persistent virtual world �. What makes it unique is the integration of real digital ownership—players can earn, trade, and utilize assets in ways never seen in traditional gaming.
CoinMarketCap
The $PIXEL token plays a central role in this ecosystem. It is used for in-game purchases, NFT minting, premium features, and even governance, giving the community a voice in the future of the platform �. This creates a powerful player-driven economy where engagement is directly rewarded.
CoinMarketCap
Another strong advantage of @Pixels is its accessibility. Being browser-based and built on the Ronin Network, it offers fast and low-cost transactions, making it easy for anyone to start playing and earning without technical barriers �. This lowers the entry barrier for new users entering Web3.
CoinGecko
In my opinion, @Pixels els represents the future of GameFi—where gameplay, community, and earning opportunities are perfectly balanced. As adoption of blockchain gaming continues to grow, projects like $PIXEL EL have the potential to become major players in the industry.
If you are exploring Web3 gaming, keeping an eye on @Pixels could be a smart move. #PEPEATH ixel 🚀

Bernstein has called a Bitcoin bottom and set a $450 price target on Strategy stock, 226% above Monday’s closing price of $138.20. The call comes from analyst Gautam Chhugani at a firm managing nearly $880 billion in assets, which means this is not a retail sentiment spike. It is institutional research drawing a line in the sand on the BTC-equity trade.
Bitcoin peaked at $126,210 on October 6, 2025. A flash crash on October 10, triggered by leveraged liquidations, initiated the correction, compounded by late February 2026 U.S.-Israeli strikes on Iran, and Bitcoin still held a floor near $71,000.
Chhugani frames the 44% drawdown as evidence of maturation, not breakdown: institutional demand absorbed the selling pressure that, in prior cycles, would have driven 70–80% wipeouts.
The ETF data reinforces the case. Bitcoin ETFs recorded $2.2 billion in net inflows over the four weeks preceding Bernstein’s note, reversing year-to-date outflows and pushing the net 2026 figure to positive $364 million against a $90 billion asset base.
ETFs now hold 6.1% of the total Bitcoin supply. That is a structural bid, not a momentum trade, and it is exactly the kind of price floor institutional demand analysis has pointed toward throughout this correction cycle.
Bernstein’s year-end Bitcoin target is $150,000, contingent on sustained institutional buying through mid-2026 amid geopolitical headwinds. The bottom call is not a chart pattern. It is a capital flows argument.
Strategy holds 762,099 BTC, acquired most recently with a 1,031 BTC purchase last week, valued at approximately $51.43 billion.
Total balance sheet Bitcoin and cash stands at $56 billion against $18 billion in total debt, per Bernstein. Cash reserves alone cover annual dividend and interest obligations for 25 months. The Bitcoin position covers annual financing costs for approximately 50 years.
The leverage mechanism is straightforward: Strategy stock amplifies Bitcoin moves because each share represents a claim on a BTC treasury that grows as the company raises capital and buys more coin.
At $138.20, Bernstein’s $450 target prices in a Bitcoin recovery toward the $150,000 level while assigning value to the capital-raising machine itself — the $42 billion raise split between Class A common stock and perpetual preferred shares, with $6.24 billion in ATM program capacity still available across a 19-agent sales syndicate.
The STRC preferred share launched in July 2025, paying an 11.5% annual dividend monthly. Thirty-day average daily STRC volume hit $220 million, up 65% over three months, making it the most liquid preferred product in its category. Strategy is down 57% over six months and 59% over twelve months, reflecting dilution concerns from ongoing equity raises.
The stock has recovered 10.9% over the past month. Bernstein is betting the dilution discount is already priced in.
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Bhutan is selling Bitcoin again. The Royal Government transferred 519.7 BTC worth roughly $36.75 million to a Binance deposit address Wednesday. The move comes from Druk Holding and Investments, the nation’s sovereign wealth fund, and follows a consistent pattern of outflows that has been running for months.
The remaining stack now sits at 4,453 BTC. That is a sharp drop from a peak of over 13,000 BTC. More than two thirds of the position is gone.
Data from Arkham Intelligence identifies the movement as a split transaction.
The funds were routed to two distinct wallets: one associated with the trading firm QCP Capital and another directly feeding Binance Inflows.
Direct transfers to exchange deposit addresses typically signal immediate intent to sell or collateralize assets rather than mere custody rotation.
This is a liquidity event. The market has seen this repeatedly in recent weeks, including a $72 million exit last week and a $12 million tranche earlier in the month. Druk Holding is averaging down its exposure while prices hover near $71,100. While some analysts debate the exact motive, the destination of these funds suggests active profit-taking rather than long-term repositioning.
Bhutan Bitcoin holdings were not purchased on the open market like typical institutional assets. They were generated through industrial-scale Bitcoin Mining operations utilizing the country’s renewable hydropower resources.
This gives Druk Holding a cost basis of effectively zero (excluding infrastructure CAPEX), making these Sovereign BTC Sales pure profit realization for the state treasury.
The strategy has shifted. From 2022 through late 2024, Bhutan was a net accumulator. Now, the state acts as a disciplined seller.
Unlike El Salvador, which continues to buy, Bhutan is monetizing its digital surplus to fund domestic initiatives. Analysts view this as a capital rotation likely funding the Gelephu Mindfulness City infrastructure project.
While Bitcoin and gold reverse roles in the broader macro conversation, Bhutan treats its BTC stack strictly as a working capital account.
Markets are absorbing the supply. Despite persistent sell pressure from Bhutan, Bitcoin remains resilient, trading with volatility signals that suggest strong demand absorption. The Druk Holding wallet is now a known sell-side vector. This is an organized unwind. The treasury is liquidating into strength.
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Bitcoin price dropped to approximately $66,500, shedding nearly 6% in hours, after President Trump’s April 1st address signaled harder military strikes against Iran in the coming weeks, shattering the fragile optimism that had briefly lifted risk assets
The S&P 500 followed into the red, with MSCI’s Asia Pacific index reversing a prior session’s rebound to fall 1.7%. Brent crude jumped more than 5% to above $106 a barrel as traders priced in prolonged Strait of Hormuz disruption. This market fallout is precisely the macro fog that keeps risk assets pinned
Trump’s remarks reversed sentiment that had built earlier this week when he indicated a willingness to end the conflict before reopening the Strait of Hormuz, a critical global trade waterway
The April 1st address walked that back entirely, using language that pointed toward escalation rather than negotiation. Investors received no timeline for resolution – only the prospect of intensified operations
Bitcoin’s digital gold narrative took another hit. With the 30-day rolling BTC-to-S&P 500 correlation spiking to 0.75 – its highest in months – institutional desks are treating Bitcoin as a high-beta tech proxy, not a geopolitical hedge. The safe-haven narrative is cracking
BTC is sitting at $66,500, stuck in a pattern of lower highs since the March peak at $76,000, with each recovery attempt getting weaker and selling pressure capping every bounce before it gets going
The $64,000 to $65,000 floor is the level that matters most right now, it has held on multiple tests but a clean break below it opens the path straight back to $60,000 where the February wick bottomed out
On the upside, $68,000 and then $70,000 are the levels that need to flip for any real recovery narrative to rebuild, and neither looks easy given how heavy every bounce has been recently
Until one of those scenarios plays out, this is a chart in damage control mode
The broader bearish trend in BTC’s recent price history makes this inflection point more consequential than it might otherwise appear
Bitcoin ended March up just 2%, snapping a five-month losing streak – but it remains down roughly 45% from its October peak above $126,000. Apparent demand was already negative by approximately 63,000 BTC as of late last month, per CryptoQuant.
Stock and commodity markets continue to whipsaw according to Trump’s latest comments on geopolitical developments,” said Caroline Mauron, co-founder of Orbit Markets.
Bitcoin is largely following stocks’ direction, though in the past few weeks it has showed reduced sensitivity to both good and bad news.” That reduced sensitivity may be the one thin positive – but it hasn’t prevented a $6,500 drop in a single session.
Notably, gold’s worst monthly performance in 17 years through March – down more than 11% – strips away the easy ‘rotate to safe havens’ narrative. Treasuries and cash are absorbing the flight-to-safety flow instead.
The 10-year U.S. Treasury yield surged as markets priced in persistent inflation driven by energy supply disruptions, creating a direct headwind for non-yielding assets like Bitcoin. Until the Iran situation resolves cleanly in either direction, Bitcoin is unlikely to decouple.
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The proposal would move block building away from individual validators, create a revenue entity called FIRE to buy and burn FLR, and reduce annual token inflation to 3%.
External estimates put annual MEV revenues at tens of millions on networks like Arbitrum, upwards of $500 million on Ethereum, and as much as $1 billion on Solana. Flare's three-stage proposal would route the revenue into the protocol's own token economics.
In the first stage, block building moves from individual validators to a designated builder, initially run by the Flare Entity, with a fallback to the current model if the builder is unavailable. In the second, block building moves into Flare Confidential Compute, making the process publicly auditable. The third stage merges the builder and proposer into a single entity, shifting existing validators to a verification role.
The proposal also creates FIRE, the Flare Income Reinvestment Entity to collect revenue from multiple protocol sources including attestation fees, FAsset and Smart Account fees, confidential compute fees and the captured MEV. FIRE's primary mandate is reducing FLR token supply through open-market buybacks and burns.
Several changes would take effect immediately after approval. Annual FLR inflation would drop to 3% from 5%, with the hard cap cut to 3 billion tokens per year from 5 billion. A 20-fold increase to the base gas fee, from 60 gwei to 1,200 gwei, would raise estimated annual FLR burn from roughly 7.5 million to 300 million at current transaction volumes. Even after the increase, a standard Flare transaction would cost a fraction of a cent.
Flare has deep roots in the XRP ecosystem, having distributed its initial token supply through an airdrop to XRP holders in 2023. Its FAssets system, which has produced over 150 million FXRP, is designed to bring smart contract functionality to assets on blockchains like XRPL that do not natively support it.
The network reports over $160 million in total value locked as of late March 2026, with more than 887,000 active addresses.
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I love PC building because I love customization. It’s one of the big reasons to build your own desktop, along with upgradeability and cost savings… though that latter point is out the window right now. Anyway, Corsair is leaning into the custom angle with its latest online “builder” tool, this time for the ubiquitous Frame 4000D ATX case.
It’s a smart move. The 4000D is a fine case, but it’s essentially just a box—no crazy curves, no over-the-top elements. Corsair has seemingly been modifying the design for years, as exemplified by the side bracket for that display you can add to an otherwise mundane enclosure. But I’m getting ahead of myself
If you’ve played around with other online customization tools—like Corsair’s own K65 Plus keyboard builder or Framework’s laptops—you know what to expect here. It starts with the bare frame, either black or white. Then you get a lot more variety in the front panel, which comes in a dozen options. You get classy wood (already out of stock!), flat or slightly frosted glass, or an RGB-bedecked airflow option.
The motherboard tray gets only five choices: basic white or black, a slightly upgraded “rapid route” punchhole version of each (which doesn’t seem like a back-to-front design, just a little more stylish… for something that sits under your motherboard? Okay), or “Elite Meteorite Aluminum.” That’s an $80 upgrade, which only has anodization as a reason for the extra price. Boo.
The next bit is my favorite practical choice: the PSU cover. You get a standard full-length barrier between the lower portion of the case interior and the motherboard area, in black or white. But for $15 you can upgrade to a “compact” shroud, a little cubby for the power supply that leaves a shelf free towards the front. I get the feeling that’ll be a popular option for those who want upgraded cooling… or those who just want to stick a Gundam in that spot to be extra. Either way it’s neat, though the compact shroud might interfere with some side panel options.
You get a couple of choices for front I/O, again, reminding me of the Framework Desktop. For $20 to $25, you can get three USB-C ports instead of a 2/1 split, and which one you want will depend on what gadgets you plug in on a regular basis.
The side panel is where I think a lot of the crunchy customizers will pay attention. You get glass options, with one covering just the motherboard (the PSU area gets a metal airflow shroud) and the other being the full side of the case. You can go with classic full steel if you want the stealth look, in black or white. And for something more deluxe, mounting brackets for side air intakes and Corsair’s LCD add-on are available.
The final section is just extra hardware. This is where you add on the Xeneon Edge touchscreen, or a trio of color-matched fans, plus a “QuickTurn Screw Pack.” It’s worth noting that these additional hardware options don’t come at a discount—they’re exactly the same prices you’d pay for the components separately. Since even my fairly basic 4000D build came in at over $200, that’s discouraging.
I should also note that all the upgrades and extras in this builder come as separate pieces to install on a bog-standard 4000D frame, even the ones that are crucial like the motherboard tray or front I/O. You aren’t saving any build time with this tool—in fact, you’re probably adding some.
Overall, I like the options on display here, though I’m not in love with the price. It’s very cool that it looks like all of these Frame pieces are also available as separate purchases on Corsair’s store, so you could start with a basic 4000D and upgrade as you go when you want to change things up (or when your budget allows).
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The president of the Confederation of African Football (CAF) has rejected accusations of corruption by the Senegalese government after the body’s shock decision to strip Senegal of its AFCON title and award it to Morocco.
“If anybody wants to initiate legal action alleging that there is corruption in CAF, I don’t only welcome that, I encourage them,” said Patrice Motsepe, speaking in Morocco on Thursday.
“There’s nothing to hide. We respect enormously the judicial and legal sovereignty of every single one of our 54 nations on the African continent
I’m confident that whatever the decision of CAS will say, we will respect it and we will implement it,” he added, referring to the Court of Arbitration for Sport
Motsepe’s visit comes at a particularly tense time for CAF following its surprise decision to overturn Senegal’s 1-0 win against host-nation Morocco in the Africa Cup of Nations final on January 18.
CAF cited regulations about leaving the field as it recorded a 3-0 victory in Morocco’s favour on March 17
During the match, Senegalese players, along with head coach Pape Thiaw and his staff, walked off the pitch in Rabat after Morocco were awarded an added-time penalty, which forward Brahim Diaz ultimately missed
The Senegalese Football Federation has appealed CAF’s decision at the Court of Arbitration for Sport (CAS)
The decision has sparked a strong response by Senegal, whose government has called for an international investigation into suspected corruption within the institution
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The Strait of Hormuz, which links the Gulf to the Gulf of Oman, has held global attention since Israel and the US began their war on Iran in February.
Until fighting began, the narrow channel, through which 20 per cent of the world’s oil and liquefied natural gas (LNG) supplies are shipped from Gulf producers in peacetime, remained toll-free and safe for vessels. The strait is shared by Iran and Oman and does not fall into the category of international waters
After the US and Israel began strikes, Iran retaliated by attacking “enemy” merchant ships in the strait, effectively halting passage for all, stranding shipping, and creating one of the worst-ever global energy distribution crises.
Tehran continued to refuse to re-open the strait to all traffic at the start of this week, despite US President Donald Trump’s threats to bomb Iran’s power plants and bridges if it did not relent. Trump backed away from his threat on Tuesday night when a two-week ceasefire, brokered by Pakistan, was declared.
That followed a 10-point peace proposal from Iran that Trump described as a “workable” basis on which to negotiate a permanent end to hostilities.
As part of the truce, Tehran has now issued official terms it says will guide its control of the Strait going forward. The US has not directly acknowledged the terms ahead of talks set to begin in Islamabad on Friday. However, analysts say Tehran’s continued control will be unpopular with Washington, as well as other countries
During the crisis, only a few ships from specific countries deemed friendly to Iran and those which pay a toll have been granted safe passage. At least two tolls for ships are believed to have been paid in Chinese yuan, in what appears to be a strategy to weaken the US dollar, but also to avoid US sanctions. China, which buys 80 percent of Iran’s oil, already pays Tehran in yuan
On Tuesday, Iran’s Foreign Minister Abbas Aragchi said Iran would grant safe passage through the strait during the ceasefire in “coordination with Iran’s Armed Forces and with due consideration of technical limitations
On Wednesday, the Islamic Revolutionary Guard Corps (IRGC) released a map of the strait showing a safe route for ships to follow. The map appears to direct ships further north towards the Iranian coast and away from the traditional route closer to the coast of Oman
In a statement, the IRGC said all vessels must use the new map for navigation due to “the likelihood of the presence of various types of anti-ship mines in the main traffic zone”
However, Trump said on Tuesday the US would be “helping with the traffic buildup” in the strait and that the US army would be “hanging around” as the negotiations go on.
It is unclear whether Iran is collecting toll fees during the ceasefire period.
It’s not known to what extent US troops are directing what happens in the strait now
The Strait will be “OPEN & SAFE” he posted on his Truth Social media site on Thursday, adding that US troops would not leave the area, and threatening to resume attacks if the
Among Tehran’s main demands listed on its 10-point plan are that the US and Israel permanently cease all attacks on Iran and its allies – particularly Lebanon – lift all sanctions, and allow Iran to retain control over Hormuz. The plan has not been fully published but is understood to be a starting point for talks
Delhi-based maritime analyst C Uday Bhaskar told Al Jazeera that there is a lot of “uncertainty” about who can sail through the strait, and that only between three and five ships have transited since the war was paused
Revenues raised would be used to rebuild military and civilian infrastructure damaged by US-Israeli strikes, Tehran said
Iranian media say Iran is considering a plan to charge up to $2m per vessel to be shared with Oman on the opposite side of the strait. Other reports suggest Iran could charge $1 per barrel of oil being shipped
Critics of Iran’s plan to charge tolls say it violates international law guiding safe maritime passage, and should not be part of a final ceasefire agreement
Oman has rejected the idea. Transport minister Said Al-Maawali said on Wednesday that the Omanis previously “signed all international maritime transport agreements” which bar taking fees
The law allows coastal states to collect fees for services rendered, such as navigation assistance or port use, but not for passage itself
The United Nations Convention on the Law of the Sea (UNCLOS) says levies cannot be charged on ships sailing through international straits or territorial seas
Neither the US nor Iran has ratified that particular convention, however
Even if they had, there could be ways to get around this law anyway. Analyst Bhaskar told Al Jazeera that if Iran instead charged fees to de-mine the strait and make it safe for passage again, that could be allowable under maritime laws
There is no precedent in recent history of countries officially taxing passage through international straits or waterways
In October 2024, a United Nations Security Council report alleged that the Iran-backed Houthis in Yemen were collecting “illegal fees” from shipping companies to allow vessels to pass through the Red Sea and the Bab-el-Mandeb strait, where it was targeting ships linked to Israel during the Gaza war
Last week, a top adviser to Supreme Leader Mojtaba Khamenei suggested the Houthis could shut the Bab al-Mandeb shipping route again in light of the war on Iran
Tolls for passage through the Strait of Hormuz would likely most affect oil and gas-producing countries in the Gulf, but ripple effects will spread to others as well, as the current supply shocks have shown
Gulf countries, which issued statements calling for the reopening of the passage and praising the ceasefire on Wednesday, would also face a continuing degree of uncertainty, analysts say, as Iran could again disrupt flows in the future
Before the ceasefire was announced, Bahrain had already proposed a resolution at the UN Security Council calling on member states to coordinate and jointly reopen the passage by “all necessary means”. It was backed by Qatar, the UAE, Saudi Arabia, Kuwait and Jordan. On April 7, 11 of 15 UNSC members voted in favour of that resolution
But Russia and China vetoed the resolution, saying it was biased against Iran and did not address the initial strikes on Iran by the US and Israel
Beyond the region, observers say the US is unlikely to accept indefinite toll demands by Iran as part of the negotiations expected to begin on Friday
A toll to pass through the Strait of Hormuz “is not going to go down well with President Trump and his expectations that the strait should be open for everyone”, Amin Saikal, a professor at the Australian National University, said
Other major powers have also voiced opposition. Ahead of the ceasefire, Britain had begun discussions with 40 other countries to find a way to reopen the strait.
Practical realities in the strait might see a different scenario play out with ship owners losing millions each day their vessels remain stranded seeking to get them out quickly and undamaged experts say. They are more likely to comply with Iran, at least for now
“If I were the owner of a VLCC [very large crude carrier] which weighs about 300,000 tonnes, whose value could be a quarter billion dollars…I would believe the Iranians if they said we have laid mines,” Bhaskar said.
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