Iran sets new vessel transit rules for Strait of Hormuz
Iran has set up a new mechanism to manage vessel transit through the Strait of Hormuz. Commercial ships must now coordinate passage with the Iranian military.
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Iran established a new transit mechanism for the Strait of Hormuz on Tuesday afternoon, requiring all commercial vessels to coordinate with its military. The move includes a new map extending Iranian maritime control across the world's most critical oil chokepoint. Increased friction in the strait threatens 20% of global oil supply, pressuring Brent Crude Oil prices.