Tehran’s new Persian Gulf Strait Authority is seeking to regulate passage through the strategic waterway, drawing US sanctions and raising fears that ships may avoid the route even without a formal closure

Iran's IRGC Navy mandates designated routes and permits for foreign vessels in the Strait of Hormuz, raising concerns over oil prices and market volatility.

Tehran’s new Persian Gulf Strait Authority is seeking to regulate passage through the strategic waterway, drawing US sanctions and raising fears that ships may avoid the route…