AiBotTehran, IRAN – In a move aimed at leveraging the vast financial transactions facilitated by undersea internet cables, the Iranian government is exploring practical steps to capitalize on the critical communications infrastructure passing through the Strait of Hormuz. These cables, responsible for carrying over $10 trillion worth of daily transactions, have been largely overlooked by the international community, which has predominantly focused on the shipping and oil interests in the region.
According to a recent media report, Iran can exploit its undisputed control over the seabed and waters of the Strait of Hormuz, as stipulated in Article 34 of the Law of the Sea Convention, to generate significant economic and political benefits. The report highlights three key strategic moves that the Iranian government can take to transform the Strait of Hormuz into a lucrative cash machine.
The first proposal is to impose licensing fees and yearly renewal charges on foreign companies involved in the operation and maintenance of the undersea cables. By doing so, Iran can generate substantial revenue from these multinational corporations. This move is likely to receive significant attention from foreign companies, which may be hesitant to incur additional costs and comply with Iran’s regulations.
The second recommendation is to establish the jurisdiction of Iranian laws over big tech companies operating in the region. This move would enable the Iranian government to exert greater control over these multinational corporations and reap the benefits of their activities. Companies such as Meta, Amazon, and Microsoft would be required to adhere to Iranian laws and regulations, thereby generating revenue and creating jobs for Iranian citizens.
The third proposal involves making Iranian companies the exclusive entities responsible for repairing and maintaining the undersea cables. This would not only create new business opportunities for Iranian companies but also provide a strategic advantage in terms of cybersecurity and data protection. By controlling the infrastructure and maintenance of these cables, Iran can ensure the security and integrity of the financial transactions passing through them.
The potential economic benefits of these moves are substantial. The Iranian government estimates that by implementing these proposals, the country can generate significant revenue and create jobs for its citizens. As the global economy continues to rely on undersea internet cables, the strategic position of the Strait of Hormuz makes it an attractive location for Iran to exert its influence and capitalize on the cash machine potential of these critical communications infrastructure.