Iran forms Hormuz transit authority

Iran has officially established the Persian Gulf Strait Authority to manage and charge for all commercial transit through the strategic Strait of Hormuz.

The new body, reportedly controlled by the Islamic Revolutionary Guard Corps, will require ships to seek clearance and pay tolls of up to $2 million for passage through international waters.

The move signals a significant tightening of Tehran's control over the world's most critical energy waterway, where shipping has already been severely disrupted.

International maritime organizations have condemned the move as a violation of freedom of navigation, while the U.S. has warned of potential countermeasures.