worldeconmy

“Iran has formalized its control over the Strait of Hormuz through the creation of a new body, the Persian Gulf Strait Authority (PGSA), which requires all vessels passing through the strait to submit an information declaration before being granted transit authorization.
The form contains more than 40 questions regarding the name of the vessel, the country of origin and destination, the nationality of the owners, operators, and crew, as well as the type of cargo.
Before the start of the conflict with the United States and Israel at the end of February 2026, the strait was freely accessible to all vessels. Now, Iran threatens to attack any vessel crossing without authorization from the IRGC.
One fifth of the world’s supply of oil and liquefied natural gas passes through the Strait, which means that control over the same gives Tehran enormous influence over the global economy.
#HormuzStrait #Irã #EnergyCrisis
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