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Market Chatter: Indonesia Says No Levies on Ships Crossing Malacca Strait

-- Indonesia's Foreign Minister Sugioni clarified on Thursday that there were no plans to apply tolls on ships using key trade route Malacca Strait, The Jakarta Globe reported Thursday.

The statement came after concerns surfaced following light-hearted remarks by the Finance Minister Purbaya Yudhi Sadewa about potential Malacca levies, which he followed up with saying "If only that were possible, but that's not the case."

Sugiono emphasized that the country's actions comply with UNCLOS, a maritime law that deems any such levies illegal, according to the report.

Following Sadewa's remarks, Malaysian and Singaporean Foreign Ministers Mohamad Hasan and Vivian Balakrishnan had reportedly stressed that any decision related to the strait required agreement from all bordering countries and was not subject to unilateral approval.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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