ISTANBUL, May 16 — Iran has drawn up a mechanism to regulate maritime traffic through a designated route in the Strait of Hormuz and will charge fees “for the specialised...

Iran is preparing to introduce a new mechanism that would require ships to pay fees before passing through the strategic Strait of Hormuz, amid growing regional tensions involving…

Iran plans to unveil a Strait of Hormuz traffic management mechanism, collecting fees from cooperating commercial vessels.