Turkey will increase the cost of passage through the Bosphorus and Dardanelles straits fivefold. The new tariffs will come into effect on October 7th.
As already mentioned, when the Montreux Convention regulating the passage of ships through the straits was signed in 1936, the amount of the fees was set in French francs. When this currency went out of circulation, the Turkish lira and the US-Dollar used in the calculations.
For a long time, the 1 gold franc was equal to 0,29 g of gold, despite inflation and rising gold prices. In 1983, Turkey equated 1 gold franc to $0,8, and since October 7 decided to increase its value to $4. When calculating the amount of collection, this amount is multiplied by the net tonnage of the ship.