- Iran has established a new agency to screen and tax ships passing through the Strait of Hormuz, according to a shipping intelligence report.
- The move comes as Tehran says it is reviewing the latest U.S. proposal aimed at ending the conflict.
- The formalization of control over the strait could introduce new costs and delays for global oil shipments, affecting energy markets and shipping costs.
New Authority at Hormuz
Iran has taken a significant step toward tightening its grip on the Strait of Hormuz, setting up a new agency to screen and impose tolls on vessels transiting the vital waterway, according to a report from Lloyd's List Intelligence. The so-called Persian Gulf Strait Authority will oversee passage, marking a shift from ad hoc measures to formalized state control.
The development coincides with Tehran's announcement that it is reviewing the latest U.S. peace proposal, a sign that the two sides are still negotiating amid elevated tensions. The strait, through which about 20% of the world's oil passes, has seen restricted traffic and increased naval activity in recent weeks, with some vessels reporting delays.
Implications for Global Shipping
If implemented, the toll regime could add a new cost layer for shippers and insurers, potentially driving up fuel prices. "This could be a game-changer for tanker routes," said a shipping analyst, speaking on condition of anonymity. "Even a small fee per barrel adds up when you're moving millions of barrels a day."
Efforts to reach Iran's mission to the United Nations for comment were unsuccessful. The U.S. Navy's Fifth Fleet, which conducts patrols in the region, declined to comment on the report.
Political Calculations
The move appears to be a bargaining chip as Tehran reviews the U.S. proposal. "Iran is signaling that it can make life difficult for global energy markets if it doesn't get what it wants," said a former U.S. diplomat familiar with the negotiations. The strait's status has long been a flashpoint, with past incidents of seizure and harassment of commercial vessels.
Markets have so far shown resilience, with crude prices steady on Friday, but traders are watching closely. "Any disruption at Hormuz is a major risk," said an oil trader. "We're already seeing some diversions to longer routes."