On the other hand, Trump is threatening, on the other hand, Iran has brought a new law regarding Hormuz, will collect toll from ships, got approval from the Parliament.

Iran Strait of Hormuz Toll: Iran has decided to impose toll on ships passing through the Strait of Hormuz. On Monday, the Security Committee of Iran’s parliament approved the Strait of Hormuz management plan. Under this scheme, fees will be collected from ships passing through the strategic sea route of Hormuz. The plan includes provisions for security arrangements, safety of ships, environmental protection, financial arrangements and implementation of riyal-based toll system.

Iran has clarified that US and Israeli ships will not be allowed to pass through the Strait of Hormuz. Apart from this, there will also be a ban on ships of those countries which are involved in international sanctions against Iran. Iran has set out to cooperate with Oman in creating the legal framework and implementation of this plan. Iran has implemented this plan when US President Donald Trump had threatened to open Hormuz a day earlier.

There will be no traffic without Iran’s permission

Iran’s state TV IRIB reported that this step has been taken amid the ongoing war with the US-Israel alliance. Iran has used the Strait of Hormuz as a strategic weapon in this war since February 28. Traffic on this route will not be possible without Iranian permission.

Why is the Strait of Hormuz important?

The Strait of Hormuz is approximately 161 kilometers long and this route transports about 20 percent of the world’s crude oil. Iran’s control of the strait and imposition of tolls have severely impacted international trade, and sent global oil prices soaring. This step of Iran is a clear message to America and its allies that this waterway will not remain completely open for them. America had threatened to liberate the strait, but Iran is adamant on this.

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The new arrangement is also likely to bring economic benefits to Iran, as it is one of the world’s busiest sea routes and its tolls will generate significant revenue for the state. At the same time, this decision has increased pressure on the global energy market and maritime trade. Thus, the Strait of Hormuz has now become a key part of Iran’s strategy, posing a challenge to the US and Israel and impacting global oil trade.