Dhaka, May 11 -- A new regulatory system has been introduced by Iran for the Strait of Hormuz, making prior authorisation and toll payment mandatory for all vessels, according to a shipping journal.

At a time when Washington is pushing to reopen the strategically vital waterway amid stalled efforts to end the West Asia conflict, Tehran has moved ahead with the new measures, Indian outlet NDTV reports citing Lloyd's List.

The industry journal said the Persian Gulf Strait Authority (PGSA) has launched a framework requiring ships to obtain transit approval before entering the strait.

Under the system, vessels must submit a "Vessel Information Declaration" containing ownership details, insurance records, crew information and intended trans...