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As a key waterway connecting the Persian Gulf and the Gulf of Oman, the Strait of Hormuz is responsible for nearly one-third of the world’s seaborne crude oil transport. Changes in navigation status through this strait have always had a direct impact on the global energy market and regional shipping security.

The collapse of STRC preferred shares involved a range of factors including bond repurchase, reduced cash reserves, and the Bitcoin bear market, which together led STRC to face parity challenges.

BlockBeats News, June 20th - According to the Financial Times, the Iran's Ports and Maritime Organization has issued a document requiring all ships to have approval insurance from the organization to pass through the Strait of Hormuz. This insurance is free within the timeframe specified in the US-Iran memorandum of understanding and may be charged for in the future. This document is circulating among the shipping industry management. The document states, "All ships must have a valid insurance policy approved by the Ports and Maritime Organization of the Persian Gulf," and currently, this insurance is "free of charge," but the organization "reserves the right to charge premiums in the future."