Iran to legislate Strait of Hormuz security plan

Iranian parliament member Boroujerdi announced that the Strait of Hormuz Security Plan will be approved as enforceable law once parliament reopens, after multiple sessions examining its legal and international dimensions. The Central Bank has opened four special accounts in rial, yuan, dollar, and euro for fees collected by the IRGC Navy under this plan. Boroujerdi claimed the plan will be a sustainable revenue source and, with digital currency infrastructure, could strengthen the national currency in international trade. This move formalizes Iran's assertion of sovereignty over the strategic waterway, through which about 20% of global oil transit passes.