Oman presented regional mechanism for Hormuz to Iran, source says

RIYADH, July 28 (Reuters) - Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz with voluntary fees, a Gulf source told Reuters on Tuesday. Under the Omani proposal, which has regional backing, Iran would not exercise sole control of the vital waterway, the source added. The proposal is based on the Strait of Malacca, where those who use the strait voluntarily contribute to fund navigation, environmental protection and search and rescue.