Iran warns vessels violating Strait of Hormuz transit rules of fines, detention

Since mid-March, Iran's Islamic Revolutionary Guard Corps (IRGC) has been running a "tollbooth" under which foreign-flagged vessels undergo a strict vetting process before being allowed to transit through Iranian waters after paying a fee.

Iran blocked shipping through the strait after US and Israeli strikes began on February 28

And considering Brent crude was around $90 a barrel on Monday, margins for cargoes transported and sold could be substantial.

Iran maintains the waterway is closed, while Trump claims US control as tensions with Washington escalate.