Iran’s National Security and Foreign Policy Commission has backed a draft law allowing Tehran to charge vessels from countries permitted to use the Strait of Hormuz for navigation, environmental, fuel, insurance, security and other services. The fees could be paid in Iranian rials or another currency designated by Tehran, while the proposal recognizes freedom of navigation under international law and the rights and sovereignty of coastal states. Full parliament approval is still required, followed by review by the Guardian Council and potentially the Expediency Council. The move comes hours before the United States is expected to announce new sanctions on Iran, raising concern about a disruption at a waterway that carries roughly a fifth of the world’s oil. WTI crude fell 1.3% to $85.93 a barrel and Brent declined 1.87% to $93.22 as traders awaited details. The standoff also threatens to compound pressure on US bonds: the 30-year Treasury yield has traded near 5.3%, its highest level since 2007, while US government debt has surpassed $40 trillion. Markets are watching whether sanctions target China, which buys more than 80% of Iran’s oil exports, and whether Tehran’s proposed countermeasures remain rhetorical or escalate into a supply shock.