Iran pushes sweeping law to ban US and Israeli ships from Strait of Hormuz

Iranian lawmakers are weighing a sweeping bill that would bar US, Israeli and other “hostile” ships from the vital Strait of Hormuz. The proposed law would also block military and civilian cargo accused of supporting Israel from passing through the strategic waterway. Tehran could further deny passage to countries it blames for damage until compensation is paid. Under the legislation, violators could face fines worth up to 20 per cent of a ship’s cargo. The measure would give Iran an even tighter grip over a waterway carrying roughly one-fifth of the world’s oil supply.