A new Iranian entity launched this week is seeking to regulate maritime traffic through the Strait of Hormuz, demanding vessels comply with a number of financial and war-related terms set by Tehran. The new restrictions, which coincide with other efforts to assert control in the strategic waterway, could generate significant revenue for Iran at a time of mounting economic pressure.

What is it? Iran's state-run Press TV reported on Tuesday that Iran has launched the Persian Gulf Strait Authority, describing it as a new mechanism for governing maritime traffic through the Strait of Hormuz. Under the new system, vessels wishing to traverse the strait will receive an email from the authority outlining rules and regulations for passage and must “adjust their operations according to this framework” in order to receive a transit permit, the outlet reported. 

Ships need to meet a number of conditions in order to obtain a permit, and the official Islamic Republic of Iran Broadcasting reported on Thursday that the vessels must refer to the Gulf as the Persian Gulf in all maritime correspondence. 

Iran refers to the Gulf as the Persian Gulf, but this term is rejected by Arab states, who refer to the waterway as the Arabian Gulf or simply the Gulf.