Iran has declared that ships from China, Russia, India, Pakistan, Iraq, and Bangladesh can safely navigate the Strait of Hormuz, which remains closed to enemy nations, while its parliament is reportedly drafting legislation to impose a US$2 million "transit fee" on vessels passing through the strategic waterway.
Foreign Minister Abbas Araghchi said in a state media interview that the US had forced Iran to demonstrate its control over the strait. "The Americans thought Iran was bluffing, that we didn't have the courage to act. But Iran did it," he said, adding that Washington had failed to prevent Tehran from closing the waterway.
Araghchi explained that the strait is not completely closed but restricted to "enemies and their allies." With the area now considered a war zone, he said Iran has no reason to allow enemy vessels passage. He listed six countries whose ships can pass after coordination with Iranian authorities.
Meanwhile, Bloomberg reported that Iran's parliament is drafting a bill to formalize a US$2 million transit fee for vessels seeking safe passage. Sources said the legislation, expected to be completed next week, aims to legally establish Iran's authority over the strait. The shipping industry has previously reported informal payment arrangements through intermediaries, and the new law would institutionalize such practices.
The Strait of Hormuz carries about one-fifth of global oil and gas trade. Brent crude briefly surged above US$104 per barrel following the blockade, with West Texas Intermediate trading above US$90.
