Iran has approved new rules for vessels making unauthorised passages through the Strait of Hormuz, including a fine equivalent to 20% of the value of their cargo and temporary seizure of the vessel until the penalty is paid, state media reported.
According to Fars, the spokesperson for Iran's Parliament National Security Commission said the committee had approved new legal provisions governing transit through the strategic waterway.
Under the approved provisions, vessels deemed to have violated the rules will face a fine equal to 20% of their cargo value. Their vessels may also be temporarily detained until the fine is paid.
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The Iranian judiciary has been directed to establish specialised branches staffed by judges and experts in maritime law and the law of the sea to oversee enforcement, according to the report.
The legislation also stipulates that any bilateral or multilateral international agreement or binding document concerning the Strait of Hormuz must be concluded within the framework of Articles 77, 125, 176 and 57 of Iran's Constitution.
Separately, Iran's General Staff of the Armed Forces, either directly or through the Defence Ministry, will submit a report to Parliament's National Security and Foreign Policy Commission every three months on implementation of the law, the report said.
ALSO READ: Iran Proposes Reopening Strait Of Hormuz In 7 Days To Spur Diplomacy: Report
Meanwhile, global crude oil prices crossed $100 again on Tuesday, September 22 after US President Donald Trump's speech at United Nations General Assembly.
Trump told UNGA that he faced a “big decision” over Iran, giving a choice between a peace deal or devastating military action. He, however hoped that the United States and Iran will eventually reach a deal, while urging the Islamic Republic to negotiate and warning that Washington will not permit to develop a nuclear weapon.
Brent crude held around $100.04 a barrel following US President's speech, while West Texas Intermediate traded over $91 a barrel.
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