Iran says it has established a controlled maritime zone in the Strait of Hormuz that ships will not be able to transit without authorization from the newly created Persian Gulf Strait Authority. On Wednesday, Iran’s Islamic Revolutionary Guard Corps said it had coordinated safe passage for 26 cargo ships and tankers, including the first shipment of Middle East oil to South Korea since the U.S. and Israel launched strikes on Iran nearly three months ago. Iran is reportedly charging tolls of up to $2 million for passage through the strait, to be paid in Chinese yuan or the cryptocurrency bitcoin.

Meanwhile, Iran’s Foreign Ministry says it’s reviewing the latest U.S. peace proposal, after President Trump said he was willing to delay planned attacks on Iran for “a few days” while he awaits Iran’s response. On Tuesday, Trump spoke by phone with Israeli Prime Minister Benjamin Netanyahu. Axios reports the Israeli leader left the meeting with his “hair on fire” after urging Trump to abandon diplomacy and resume bombing Iran. On Wednesday, Trump downplayed reports of friction between the two leaders and said Netanyahu would “do whatever I want him to do.”

President Donald Trump: “I’m right now at 99% in Israel. I could run for prime minister. So, maybe after I do this, I’ll go to Israel and run for prime minister.”