Hormuz Becomes a Holding Queue: Iran’s Toll Regime, Bilateral Carve-Outs, and a Bifurcating Strait
At a Glance Iran is moving to formalize a state-administered transit-toll regime under the new Persian Gulf Strait Authority (PGSA), with reported per-transit payments of up to $2 million settled in Chinese yuan and Bitcoin transfers to IRGC-linked wal…