Iran plans exclusion zone near Strait of Hormuz

Iran plans to create an exclusion zone near the strategic Strait of Hormuz, expanding the restrictions around one of the world’s key routes for oil and gas. Mohsen Rezaei, head of Iran’s Supreme National Security Council, announced the plan on Iranian state television.

Rezaei said the zone would be announced in the coming days. It would begin at the line of the U.S. naval blockade and cover parts of the Persian Gulf. Any ship entering the new zone would be placed on a sanctions list.

Iran has largely blocked the strait, while the United States has imposed a naval blockade on Iranian ports. Oil prices have risen worldwide, and Iran is struggling with oil imports because of the U.S. blockade.

The Iranian government also announced on Sunday that it would raise fuel prices for large consumers. Fuel prices remain politically sensitive in Iran because a subsidy system keeps them relatively low, while the country remains one of the world’s largest oil producers.

The report remains under development.

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An exclusion zone outside the Strait of Hormuz will be announced.