Iran Mandates Rial Payments for Strait of Hormuz Transit
On April 12, 2026, Iranian authorities announced that all commercial vessels transiting the Strait of Hormuz must now pay transit fees in Iranian Rials. The directive bans Israeli and US-flagged ships and applies to any nation imposing unilateral sanctions on Tehran. This economic escalation coincides with the collapse of the Islamabad ceasefire talks and is designed to create global demand for Iran's currency while asserting sovereign control over the critical maritime choke point.