New Delhi, April 9 -- Iran will allow no more than 15 vessels a day to pass through the Strait of Hormuz under its ceasefire arrangement with the United States, according to a senior Iranian source cited by Russia's TASS news agency.

The Strait - a critical maritime corridor between Iran and Oman - handles about 20% of global oil and key commodities, making any restriction a major concern for global markets.

Iranian officials said ships must coordinate with its military before transiting the waterway.

"All the ships that would like to pass through the Strait of Hormuz, they have to communicate with our army and our military," Deputy Foreign Minister Saeed Khatibzadeh told ITV, according to Bloomberg. "Anybody who communicates with Iran...