Iran Transitions to Transactional Control Over Strait of Hormuz Tanker Passage
Reports on May 14, 2026, indicate that Iran has formalised its military control over the Strait of Hormuz, transitioning from a total blockade to a transactional access model. Under this new regime, Tehran governs the transit of all commercial tankers through the waterway. This shift has fundamentally disrupted global energy supply chains and caused a dramatic increase in maritime insurance premiums, affecting approximately 20% of the world's daily oil and gas trade.