finance
Iran Plans New Mechanism to Manage Strait of Hormuz After 60 Days
Iranian officials announced a plan to introduce a new management mechanism for the Strait of Hormuz after a 60-day period. The initiative will be presented to regional countries.
Jun 19, 12:56 PM·1m read2 sources
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Iranian officials stated they will adopt a new mechanism to manage the Strait of Hormuz after 60 days. The same statement said the mechanism will include a special initiative presented to countries of the region.
Background on the Announcement The announcement came from Iran's Deputy Foreign Minister through state media. No timeline was given for when the new mechanism would begin operations.
The plan targets coordination among countries bordering the waterway. No reactions from other governments were reported in the initial statement.
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