Already heavily bombed by US and Israeli forces for six weeks, Iran on 8 April narrowly avoided yet another direct showdown with Washington just hours before President Donald Trump’s deadline to reopen the Strait of Hormuz or face what he threatened would be destruction “in one night”.

Tehran complied and a two-week ceasefire began.

Yet the ceasefire has brought little relief to commercial shipping. More than 1,000 tankers and cargo vessels remain stranded in the Persian Gulf and, since the truce took effect, only four have crossed the Strait of Hormuz. The obvious question is why ships are still not moving even after the ceasefire was announced.

Crypto tolls

The answer, apparently, is a price. Shipowners are being asked to pay $1 a…