Turkish Ministry of Transport & Infrastructure plans to five times increase the cost of passage through the Bosporus and Dardanelles five times from 7 October. This will increase the annual income from the passage of ships through the straits from USD 40million to USD 200 million.When the Montreux Convention was signed in 1936, the amount of fees was determined in French francs. When this currency went out of circulation, the Turkish lira and the dollar began to be used in calculations. For a long time, 1 franc germinal was equal to 0.29 grams of gold, despite inflation and rising gold prices. In 1983, Turkey equated 1 franc to 0.8 dollars. Now Turkey has decided to increase its cost to USD 4. When calculating the fee, this amount is multiplied by the net tonnage of the vessel.The last time the fee for passage through the straits was revised almost 40 years agoThe length of the Bosporus is about 19 miles, and the width varies from one third to two miles. The Bosphorus has played an important role in world trade for centuries. Approximately 48,000 ships pass through the straits every year, making the area one of the busiest sea gates in the world. The Bosphorus is also one of the world's most important bottlenecks for maritime oil transit. More than 3% of the world's supply, or three million barrels a day, passes through this waterway, mostly from Russia and the Caspian Sea. The route also delivers large quantities of grain and steel from Russia, Ukraine and Kazakhstan to world markets.