Middle East Business World

Strait of Hormuz Remains Blocked

Strait of Hormuz Remains Blocked

Iran has signaled that it will implement a new stage of management for the strait, which may include toll payments in digital currency.

Shipping companies are exercising extreme caution, as terms for safe passage remain unclear and military coordination is reportedly required.

The blockade continues to choke off approximately 20% of the world's seaborne oil supply, keeping global energy prices elevated.

President Trump has warned Tehran to stop charging fees, characterizing the move as a violation of the ceasefire agreement.