Starting July 1, Türkiye will increase ship passage fees through the Istanbul and Dardanelles Straits by 8.3 percent, from the current $4.0 to $4.42 per ton.
Under the Montreux Straits Convention, signed in 1936, which gives Türkiye control over the Bosphorus and Dardanelles straits and the right to regulate the passage of warships, the increases are based on the gold franc.
Henceforth, the gold franc will not be fixed but will be updated by the Ministry of Transport and Infrastructure at the end of June each year, i.e. as of July 1.
This increase is expected to bring an additional 900 million dollars to Turkey.
As a reminder, in October last year, Turkey raised the passage fee for commercial vessels through the Straits fivefold.