Iran eyes fees on Hormuz internet cables as new lever against the West

Very large crude carrier (VLCC) Eneos Endeavor, managed by Japanese refining group ‌Eneos (5020.T) , opens new tab and carrying 1.2 million barrels of Kuwait crude and 700,000 barrels of Emirati Das Blend oil, exited the strait as of May 14.

Maritime tracking data and shipping reports show only a handful of vessels successfully transiting the narrow waterway in recent days, mostly Chinese-owned tankers carrying Iraqi crude or other authorized cargoes after securing Iranian permission.

While Donald Trump landed in Beijing seeking Chinese help on Iran, Tehran was unveiling something far bigger in the background — a sweeping new Hormuz strategy that could dramatically expand Iranian control over one of the world’s most critical maritime chokepoints.

U.S. President Donald Trump discussed the Iran war with China's President Xi Jinping in Beijing on Thursday, while new attacks on vessels near the Strait of Hormuz brought a reminder of the costs of a prolonged stalemate, with peace talks stalled.