Iran Launches New Authority to Manage Strait of Hormuz and Impose Shipping Tolls

Iran’s Supreme National Security Council has announced the formation of the Persian Gulf Strait Authority (PGSA) to oversee operations in the Strait of Hormuz. The Authority will provide real-time updates on the waterway and enforce new regulations, including shipping tolls. State media reported that vessels have received notices detailing the new rules. Tehran has limited traffic since hostilities erupted with the United States and Israel on February 28, though a fragile ceasefire has held since April 8. The strait normally handles about a fifth of global oil and LNG shipments. Iran’s control of this key route has rattled markets and given it significant leverage over energy flows. Officials say they have already collected revenue from tolls and will soon unveil a full operating mechanism for the new body.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.