Iran bans US and Israeli ships and approves a toll plan for the Strait of Hormuz

Iran’s Parliamentary Security Committee authorized a new management plan in an effort to exert more control over the Strait of Hormuz amid the escalating conflict in West Asia. According to the Wall Street Journal, the plan calls for imposing charges on ships traveling through the crucial energy corridor and prohibiting Israeli and American ships from using the waterway. 

The proposal, which was formally unveiled by a National Security Commission member, also emphasizes a number of important elements, such as improved security preparations, ship safety procedures, environmental protection measures, and the introduction of a toll system.

The new strategy is to prohibit ships from all nations that have participated in the imposition of unilateral sanctions against Iran from passing through the Strait, in addition to US and Israeli ships. Additionally, Iran’s sovereign authority over the Strait of Hormuz is strengthened by the new plan. 

Additionally, it seeks to create a legal framework for the waterway with Oman. A senior member of Iran’s Islamic Republic Guard Corps (IRGC) declared a partial blockage of the Strait of Hormuz a few days after the joint US-Israeli military strike against Iran.

According to a report, the chokepoint was one of the busiest oil shipping routes in the world, with approximately 20% of the world’s oil and liquefied natural gas moving through the corridor. As a result, the shutdown caused a global energy crisis. 

A number of nations were impacted by the closure, which raised the price of gas and oil globally. Since the country imports around 90% of its total LPG across the strait, the marine disruption caused a shortage of LPG in India. A wide range of people were affected by the scarcity, from restaurant owners to small street vendors.