Iran's IRGC now requires ships to coordinate passage through the Strait of Hormuz and has proposed a Bitcoin-settled toll system for oil tanker transit.

Country’s Persian Gulf Strait Authority said that ships must follow a prescribed route that passes along its coast and that alternatives are prohibited. | World News

Iran's new Persian Gulf Strait Authority will require insurance for Strait of Hormuz transits, with a proposed Bitcoin-settled Hormuz Safe platform

For many shippers and oil producers, the demand for mandatory insurance threatens to crystallise a worst-case scenario: tolls on the strait.

This development raises concerns for the shipping sector about safe navigation. Iran's new requirements and possible insurance charges could undermine international maritime…

NEW DELHI: Iran has indicated it may introduce insurance-linked charges for ships transiting the Strait of Hormuz, a move that has heightened concerns in the global shipping…

Iran's IRGC Navy closes the Strait of Hormuz to all maritime traffic, disrupting 20% of global oil shipments and sparking crypto market volatility.

Iran's IRGC now requires ships to coordinate passage through the Strait of Hormuz and has proposed a Bitcoin-settled toll system for oil tanker transit.