(SeaPRwire) –   On Thursday, the United Nations’ shipping agency warned that charging a toll for vessels passing through the Strait of Hormuz would “set a dangerous precedent.”

The warning comes after President Donald Trump suggested on Wednesday that a joint U.S.-Iran toll system could be implemented for ships traveling through this key waterway. Trump told ABC News, “We’re thinking of doing it as a joint venture,” and, “It’s a way of securing it — also securing it from lots of other people.”

“There is no international agreement that permits imposing tolls on ships transiting international straits. Any such toll would set a dangerous precedent,” a spokesperson for the U.N.’s International Maritime Organization told Reuters on Thursday.

The Strait of Hormuz, located between Iran, Oman and the United Arab Emirates, ranks among the world’s most critical energy choke points. It carries roughly 20 million barrels of oil daily, plus approximately one-fifth of the world’s total liquefied natural gas.

Greek Prime Minister Kyriakos Mitsotakis also warned Wednesday that a reported Iranian plan to charge ships for passing through the Strait of Hormuz would be “completely unacceptable.”

“I don’t think the international community is prepared to accept Iran setting up a toll booth for every ship that crosses the strait,” Mitsotakis, who represents the world’s leading shipping power, told CNN.

“This agreement cannot, I repeat, cannot include any sort of fee that ships will be required to pay each time they cross the strait,” he continued. “This was not the case before the war started, and it cannot be the case after the war ends.”

The Trump administration had finalized a ceasefire agreement with Iran on Tuesday.

“The United States of America will help with managing traffic flow in the Strait of Hormuz. There will be plenty of positive action! Big money will be made. Iran can begin the reconstruction process,” Trump wrote on Truth Social Wednesday morning. “We’ll be bringing in all kinds of supplies, and just ‘hangin’ around’ to make sure everything goes well. I feel confident that it will.”

Amanda Macias and Alexandra Koch from Digital contributed to this report.