The Iranian regime has increasingly resorted to digital assets to evade U.S. sanctions.

Energy industry experts warn that allowing Iran to charge ships to ensure safe passage through the strait would raise energy costs.

Just 16 commodities carriers have passed through the Strait of Hormuz since a US-Iran ceasefire took effect on Wednesday, according to maritime data provider Kpler, amid lingering fears about using the strategic waterway. Crossings remain approximately 90% below peacetime levels, with no significant increase observed since the ceasefire.

The fragile ceasefire agreement was tested again on Friday after Iran refused to reopen the Strait of Hormuz. Israel and Hezbollah traded strikes in Lebanon, and Kuwait was attacked with drones.

At least nine of the 14 or so vessels to have transited chokepoint since the pause in fighting have ties to Tehran

President Donald Trump’s insistence that Iran reopen the Strait of Hormuz as the two sides head for diplomatic talks this weekend is having no effect, with transit still largely limited to Tehran-linked vessels.

Sultan Ahmed Al Jaber demanded a full reopening of the strait, warning that the oil supply disruption will increase if Iran maintains control of the passage.

The U.N.'s shipping agency warned on Thursday that any toll imposed on ships passing through the Strait of Hormuz would set a "dangerous precedent."

The vote hammered home to Gulf states that China is a partner when it comes to business—but less so on security.

Traffic through the Strait of Hormuz has yet to see a meaningful rebound and this could continue for weeks, warn shipping experts.