Roughly 20% of global supply for oil, oil products, and liquefied natural gas (LNG) passes through the strait daily. Estimated revenues from "managing and regulating" maritime traffic in this strategic waterway would range between 10 billion USD and 15 billion USD.
The plan also aims at strengthening the rial's standing. Foreign vessels could settle payments through their offices in Iran or through the Iranian banking system.
Tehran has tightened control over the Strait of Hormuz after the US and Israel launched attacks against Iran in late February, allowing a limited number of ships to pass through the strait.
