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's Deputy Foreign Minister discusses a new protocol for shipping costs in Hormuz amid tensions with neighboring BRICS countries.

Iran imposes a $1M toll on Strait of Hormuz transits, affecting shipping. At least 20 ships to transit by May 31 at 68% YES.