Iran's rules for managing the Strait of Hormuz

On May 6, 2026, an email was sent by the Persian Gulf Strait Authority to several shipping companies whose ships are stranded in the Gulf: "Instructions for Passing through the Strait of Hormuz. Vessels intending to pass through the Strait of Hormuz should email info@PGSA.ir. The most important points considered in the transit mechanism: 1) Payment priority in Iranian national currency 2) Issuance of guarantees in Iranian banks 3) If a country has caused damage to Iran during the (…)