New Delhi, April 16 -- Iran is reportedly moving to assert greater control over the Strait of Hormuz by charging toll on vessels passing through it and and asking them to coordinate with the Islamic Revolutionary Guard Corps to secure safe transit.

The key waterway located within Iran's and Oman's territorial waters is perhaps the world's most important energy shipping lane, with about 20% of the world's oil passing through it.

Iran effectively closed the strait following US-Israeli strikes on the country, and has demanded a right to collect tolls as a precondition to ending the war. And this would eventually push up prices of key commodities worldwide.

Sam Ori, executive director of the Energy Policy Institute at the University of Chi...