Under the proposal, Iran will not exercise sole control and fees would be voluntary, a system analogous to one in place on Asia’s Strait of Malacca.

Iran rejects proposal to keep the Strait of Hormuz open during Oman talks. U.S. charges for Hormuz fees by July 31 at 0.4% YES.

Under the Omani proposal, which reportedly has regional backing, Tehran won't have sole control of the vital waterway.

Muscat reportedly presents Tehran with Gulf-backed proposal for strait that includes voluntary fees