Iran says Strait of Hormuz transit will normalize once security is restored, but its new permit regime and proposed $1/barrel toll suggest permanent control, not a return to free passage.

Iran is introducing a new system for the Strait of Hormuz. Commercial ships and nations cooperating with Tehran will receive priority passage. Specialized services will incur…

Iran says Strait of Hormuz transit will normalize once security is restored, but its new permit regime and proposed $1/barrel toll suggest permanent control, not a return to free…