Iran has established a de facto safe shipping corridor in the north of the Strait of Hormuz to select ships, as Tehran sought to monetize its grip over the waterway.

The fee will be charged in accordance with a new law that the Iranian parliament is set to pass shortly

According to the plan, transiting the strait is banned for the ships associated with the US, Israel and the countries that have imposed unilateral sanctions on Iran

Iran has established a de facto safe shipping corridor in the north of the Strait of Hormuz to select ships, as Tehran sought to monetize its grip over the waterway.