Iran: Mechanisms for managing the Strait of Hormuz are ready; details will be released soon.

CoinFeed reported on May 16th that, according to Jinshi News, the head of the Iranian Parliament's National Security Committee announced that Iran has prepared a mechanism to manage traffic in the Strait of Hormuz along designated routes, with details to be released soon. Only commercial vessels and parties cooperating with Iran will benefit from this process. Necessary fees will be charged to cover the professional services provided under this mechanism. The passage will remain closed to operators of the "Freedom Project."