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Tehran forms authority to control shipping in Hormuz
Agencies | May 8, 2026 6:00 AM CST

Synopsis

Iran has established a new regulatory authority to manage maritime traffic in the crucial Strait of Hormuz, implementing checks and fees on incoming vessels. As Tehran assesses recent US proposals to resolve ongoing tensions, this development has ignited worries among international shipping companies. Yet, optimism for diplomatic solutions is invigorating global markets.

Iran has created a government agency to vet and tax vessels seeking passage through the crucial Strait of Hormuz, a shipping data company reported on Thursday, as Tehran said it was reviewing the latest US proposals for ending the war.

The Iranian effort to formalise control over the channel raised new concerns about international shipping, with hundreds of commercial ships bottled up in the Persian Gulf and unable to reach the open sea. Still, hope that the two-month conflict could soon be over buoyed international markets.

The agency, called the Persian Gulf Strait Authority, is "positioning itself as the only valid authority to grant permission to ships transiting the strait," Lloyd's reported in an online briefing. Lloyd's said the authority had emailed it an application form for ships seeking passage.


Iranian foreign ministry spokesperson Esmail Baghaei said that Tehran was reviewing messages from Pakistan, which is mediating peace negotiations, but Iran "has not yet reached a conclusion, and no response has been given to the US side," Iranian state TV reported.

Pakistani foreign minister Ishaq Dar spoke by phone Thursday with his Iranian counterpart, Abbas Araghchi, the Pakistani Foreign Ministry said. "We hope the parties will reach a peaceful and sustainable solution that will contribute not only to peace in our region but to international peace as well.

Free Mohammadi: US to Iran

Also on Thursday, the US urged Iran to free jailed Nobel Peace Prize winner Narges Mohammadi after her supporters warned she was at risk of dying in custody.


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