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Iran Built a Permit System for the Strait of Hormuz. Now It’s Charging Ships Up to $2 Million to Cross.
Before the war, roughly 120 ships crossed the Strait of Hormuz every single day. Tankers carrying crude oil, vessels loaded with liquefied natural gas, container ships moving fertiliser and petroleum products between the Gulf and the rest of the world, all of them transiting freely through a narrow channel that carries one-fifth of the global…