Iran says wants Strait of Hormuz payments made in rial currency

Iran's armed forces would be the authority responsible for the Strait of Hormuz under the country's proposed law for managing the waterway, a top official said on Monday.

Ebrahim Azizi, head of the national security commission in Iran's parliament, told state television that the armed forces were already in control of the strait and were seeking to prohibit the passage of "hostile vessels".

Azizi also said the proposed law states that financial gains from the strait should be paid in the local rial currency.