Tehran has launched a formal body to manage and charge ships for transit through the Strait of Hormuz in a highly-contested move as tankers pile up in the waterway and peace talks remain deadlocked.

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 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…