Iran Eyes Strait of Hormuz Control as Middle East Tensions Escalate

The Middle East conflict has reached a critical juncture as Iran contemplates new restrictions on shipments through the Strait of Hormuz, one of the world's most important energy routes. The waterway accounts for roughly 20% of the world's oil shipments and a significant share of liquefied natural gas (LNG) trade, posing a direct threat to energy markets, transport costs, and global inflation.

Iranian state media reported that lawmakers are considering a plan to ban ships linked to the United States, Israel, and allied countries from passing through the strait until Tehran receives compensation for wartime damage. The proposal would impose transit fees as high as 7% of cargo value for commercial vessels using the waterway, with fines up to 20% of the value of their cargo for those that fail to comply.

The US has rejected Iran's claims over Hormuz control, demanding that commercial movement through the strait remain free from restrictions, approvals, or toll payments. The row comes after months of military confrontation between Washington, Tel Aviv, and Tehran, with diplomatic efforts involving regional countries continuing as negotiations over reopening the waterway progress.