Amid escalating tensions in West Asia, the Iranian Parliament has approved a proposal to impose tolls on commercial vessels navigating the Strait of Hormuz, according to local media reports. Restricted Passage for Select NationsThe Strait of Hormuz, a narrow channel between Iran and Oman connecting the Gulf’s oil and gas producers to global markets, has become a flashpoint in regional tensions. Last week, Iranian authorities stated that only ships from five 'friendly' nations, India, China, Russia, Iraq and Pakistan, would be permitted transit. Approximately one-fifth of global energy trade passes through the Strait of Hormuz, making it a critical route for oil and gas shipments. Analysts note that prolonged conflict over the strait could have severe implications for global energy markets.

Source: dna March 31, 2026 06:36 UTC