Recognizing Iran's control over the Strait of Hormuz could set a dangerous precedent, with other countries attempting to claim important waterways, analysts say.

Iran expands control over the Strait of Hormuz amid US tensions. Strait traffic normal by August 31 at 13.5% YES.

Iran threatened to block all oil exporting routes in the region on Wednesday in response to the U.S. maritime blockade of Iranian ports in the Strait of Hormuz.