Details have emerged indicating that Iran is hurriedly drafting a bill that will Impose fees on vessels seeking safe passage through the Strait of Hormuz.

According to Iran’s Fars news agency, the plan would be finalised next week, and would legally recognize Iran’s oversight of Hormuz, a vital conduit which connects some of the world’s largest oil and gas producers in the Persian Gulf with the wider world.

The Strait of Hormuz remains largely closed to shipping casts a longer shadow over the global economy. More than 3,200 vessels are stranded.

Iran which has blocked almost all oil and gas tankers from traversing the strait, has reportedly begun charging up to $2 million per ship for “safe passage” through Hormuz where a fifth of the world’s oil and gas supply flows.

Iranian lawmaker Alaeddin Boroujerdi claimed on state TV that such fees were being collected as part of a “new sovereign regime” in the strait.

Meanwhile, Iran on Tuesday sent a letter to member states of the International Maritime Organization (IMO) saying it would now allow “non-hostile vessels” to transit Hormuz, with coordination from Tehran.

US President Donald Trump has been pressing European NATO allies to join a multinational naval patrol or escort mission in the Gulf to safeguard commercial shipping.

European countries, however, have largely resisted immediate involvement.