Iran: Hormuz Strait Will Not Return to Pre-War Conditions, Service Charges to Be Imposed

Iran's parliamentary speaker Mohammad Bagher Qalibaf has announced that the Strait of Hormuz will not return to its pre-war conditions and that Iran will begin charging for services provided through the strait. He stressed that the move does not violate international law or maritime navigation rules, according to sources cited by FirstSquaw.

The statement signals a permanent shift in Iran's stance on the strategic waterway, which handles about a fifth of the world's oil transit. The new charges could raise shipping costs and insurance premiums, potentially tightening global oil supply and boosting prices.

The announcement comes amid ongoing regional tensions and follows earlier warnings from Tehran about disrupting the strait in response to hostilities. Markets are assessing the risk of further escalation.