Iran details Hormuz transit bans, fees

Iran is considering a new law that would significantly increase its control over the strategic Strait of Hormuz. The proposed legislation would ban ships with Israeli links from transiting the waterway and require nations deemed hostile to obtain approval from Iran's National Security Council before passage. Furthermore, all vessels would be charged a transit fee payable in Iranian rials, with 30% of the revenue earmarked to fund the IRGC and the country's armed forces. This move escalates Iran's economic and security posture in the critical global shipping chokepoint.