Iran establishes regulated shipping corridor through Strait of Hormuz

Since the outbreak of hostilities on February 28, Iran has significantly restricted traffic through the Strait of Hormuz. Tehran has established a de facto secure corridor north of Larak Island, where ships are inspected by the Islamic Revolutionary Guard Corps (IRGC). Iran's parliament recently approved legislation to formalize toll collection for vessels using this route, with payments reportedly settled in Chinese yuan or cryptocurrencies. According to Bloomberg and Lloyd's List, transit fees can reach up to 2 million dollars per vessel, depending on cargo. Recent shipping data indicates that a small number of vessels, including a French-owned container ship and a Japanese-owned LNG carrier, have successfully transited the area by complying with these protocols. While Iran characterizes this as a regulated security measure, over 40 nations led by the UK have demanded the unconditional reopening of the strait. Differing reports exist regarding ongoing negotiations, as Iran expresses interest in a protocol with Oman, while official confirmation from Muscat remains limited.