Iran’s parliament has approved the general outlines of a bill aimed at managing the strategic Strait of Hormuz, spokesperson Hassan Ghashghavi announced on Sunday. The bill, titled « Strategic Action for the Security and Sustainable Progress of the Strait of Hormuz and the Persian Gulf, » must still go through several legislative steps before becoming law. Market observers note that this approval could complicate ongoing negotiations between Iran and the United States, decreasing the likelihood of a swift agreement to restore normal traffic through this strategic maritime passage.
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