Iran: Ready with a mechanism to manage the Strait of Hormuz; details to be announced soon

Mars Finance News, on May 16th, the head of Iran’s Parliament National Security and Foreign Policy Committee stated that Iran has prepared a set of mechanisms to manage the traffic through the Strait of Hormuz along designated routes, and the relevant details will be announced soon. During this process, only commercial vessels and parties cooperating with Iran will benefit. Necessary fees will be charged to cover the professional services provided under this mechanism. The channel will remain closed to operators of the “Freedom Plan.” (Jin10)

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