Iran Asserts Control Over the Strait of Hormuz

“Iran said ships that cross the Strait of Hormuz need its permission to pass the vital waterway, in a document that sets the stage for future tolling arrangements by requiring them to buy insurance from Tehran,” Bloomberg reports.

“Vessels that cross the Strait of Hormuz will need a mandatory insurance policy that is currently free but could have a cost in the future, the country’s Persian Gulf Strait Authority said in a document on its website.”