Iran Announces Mechanism to Manage Strait of Hormuz Traffic on May 16

According to Jin10 Data, on May 16, Iran's Parliamentary National Security Committee chief announced that the country has prepared a mechanism to manage traffic through the Strait of Hormuz along designated routes. Details will be disclosed soon. Only commercial vessels and parties cooperating with Iran will benefit from the arrangement. The mechanism will collect fees for professional services provided, and will remain closed to operators of 'Freedom Initiative' vessels.
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