"The number of ships passing through the Strait of Hormuz on April 9 was significantly below the 'minimum of fifteen' promised by Iran during the ceasefire, highlighting Iran's control over the waterway."
"Iran has been able to functionally keep the Strait closed, with only five ships passing during the ceasefire, compared to pre-war counts of 130 to 160 ships."
"Tehran has made quite a penny charging tolls on the Strait, demanding payment in cryptocurrency or Chinese yuan, and formalizing the requirement for army approval for ships to pass."
On April 9, only five ships passed through the Strait of Hormuz during a ceasefire between Iran, the U.S., and Israel, far below the promised minimum of fifteen. This number is drastically lower than the pre-war traffic of 130 to 160 ships. Iran has effectively kept the Strait closed despite the U.S. halting attacks. Tehran is leveraging its control over the Strait in negotiations, charging tolls in cryptocurrency or yuan, and requiring army approval for ships to pass, formalizing a de facto closure.
Read at Fortune
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