Iran has established a new Persian Gulf Strait Authority to regulate maritime traffic through the Strait of Hormuz, requiring commercial vessels to obtain transit authorisation and submit detailed cargo information before passage.
The initiative, described as a 'smart management' system, marks a formal escalation in Tehran's control over the critical waterway, which handles roughly a fifth of the world's oil supply.
The development introduces immediate operational uncertainty for energy traders and shipping lines.
While the authority's specific fee structure and enforcement mechanisms remain unclear, the requirement for prior authorisation and cargo disclosure adds administrative friction to a route already sensitive to geopolitical tensions.
Markets are likely to price in a premium for transit risk, particularly for crude oil and liquefied natural gas shipments passing through the strait.
This move follows recent reports that Iran and Oman were exploring proposals to charge commercial vessels for transit, drawing inspiration from similar toll systems in other strategic waterways.