Strait Of Hormuz | Iran Creates A 'Toll Booth' For Ships Transiting Strait Of Hormuz- Explained
Iran is tightening control over the Strait of Hormuz, with reports suggesting ships now require vetting by the Islamic Revolutionary Guard Corps to pass through the key oil route. Shipping firms say vessels must submit detailed information before receiving clearance and possible escort. Traffic through the strait has dropped sharply, with oil shipments prioritised and some payments reportedly made in Chinese yuan. The disruption along a route that carries a significant share of global oil supply is pushing prices higher and raising concerns over maritime security.
