Tehran has moved to formalize its control over the Strait of Hormuz by introducing a new body to oversee maritime transit through the strategic waterway and charge tolls, as businesses worldwide face mounting losses tied to shipping disruptions and rising energy costs.
The newly created Persian Gulf Strait Authority, or PGSA, announced in a May 18 post on X that it is now the “legal entity and representative authority” responsible for managing passage through the Strait of Hormuz on behalf of the Iranian government.
