Iran Strait Blockade Bill Threatens Global Oil Flows

A draft bill in Iran aims to ban vessels from passing through the Strait of Hormuz if they are deemed hostile, according to Fars News Agency.

The proposed legislation would impose fines of up to 20% of a vessel's cargo value for violations and would also deny passage to countries and individuals accused of causing damage to Iran until compensation is paid.

Iran has repeatedly stated that the Strait will not operate as it did before the war, while the US insists on toll-free passage and maintains that Hormuz is an international waterway.