Iran issues new shipping rules for Hormuz as US seeks to restart Freedom Project

The Iranian Islamic Revolutionary Guard Corps Navy has designated two waterways for ships to pass through, and ships are still not allowed to cross the Strait of Hormuz without Iranian permission, Iranian media reported on Thursday, as the United States is seeking to restart the Freedom Project.

Citing sources, U.S. media reported on Thursday that the new transit rules require all vessels to submit a declaration form to Iran in order to obtain safe passage. The declaration form contains information about the ship, cargo, and shipowner.

U.S. media also reported that the U.S government is currently seeking to restart the Freedom Project, using naval and air power to support and escort merchant ships through the Strait of Hormuz.

The specific timing of the restart is unclear, but a timeline provided by the Department of Defense officials suggests it could begin as early as this week, according to the Wall Street Journal.

The U.S. launched the Freedom Project on Monday morning; however, President Donald Trump announced the suspension of the project on Tuesday.

The U.S. dollar strengthened in late trading on Thursday.

The dollar index, which measures the greenback against six major peers, gained 0.05 percent to 98.063 at 1500 (1900 GMT).

In late New York trading, the euro advanced to 1.1751 dollars from 1.1748 dollars in the previous session, and the British pound fell to 1.3583 dollars from 1.3593 dollars in the previous session.

The U.S. dollar bought 156.67 Japanese yen, higher than 156.45 Japanese yen in the previous session. The U.S. dollar lost to 0.7788 Swiss francs from 0.7790 Swiss francs, and it dropped to 1.3635 Canadian dollars from 1.3636 Canadian dollars. The U.S. dollar climbed to 9.2432 Swedish Kronor from 9.2339 Swedish Kronor.