Pakistan, Turkey, Egypt, and Saudi Arabia Propose Hormuz Strait Plan Modeled After Suez Canal

Four countries – Pakistan, Turkey, Egypt, and Saudi Arabia – are proposing a plan for the management of the Strait of Hormuz, inspired by the Suez Canal model. This initiative comes amid rising tensions in the region, with Iran threatening to close the Strait in response to US-Israeli attacks, leading to an increase in oil prices. The proposals include the imposition of transit fees and the creation of a joint management authority for navigation. Pakistan, having taken on a mediating role, has already submitted the proposals to Washington, while discussions are underway with Iran. Turkey, Egypt, and Saudi Arabia are considering forming a consortium to manage oil flows, with potential participation from Pakistan. Ankara prioritizes achieving a ceasefire, considering the safe passage of ships as an important step towards building trust.