WASHINGTON — Iran’s parliament is weighing a sweeping new law that would block ships from the US, Israeli and other “hostile” nations from sailing through the Strait of Hormuz, according to Iran’s semi-official Tasnim News Agency.

The proposed legislation, dubbed the “Strategic Action for the Security and Sustainable Development of the Strait of Hormuz and the Persian Gulf,” is under review by parliament’s National Security and Foreign Policy Committee, Tasnim reported.

Abbas Salimi, a member of parliament’s presiding board, told the IRGC-aligned outlet that lawmakers are reviewing the draft bill before it moves forward.

Under the proposal, ships belonging to the United States, Israel and other nations Tehran designates as hostile would be barred from transiting the strategic waterway — a passage point for roughly a fifth of the world’s oil supply.

The bill would also prohibit military and civilian cargo accused of supporting Israel from coming through the Strait.

The legislation would go even further by allowing Iran to deny passage to countries and individuals it blames for causing damage to Tehran until compensation is paid, according to Tasnim.

Violators could face steep penalties, including fines of up to 20% of a ship’s cargo value — which could amount to tens of millions of dollars.

The US is likely to outright reject the Iranian law if passed, as Washington and most of the world considers the strait an international waterway open to ships of all countries.

The proposal comes as Tehran seeks to tighten its grip over the Strait of Hormuz after months of war with the United States brought shipping levels down to just a fraction of pre-war traffic.

The legislation also comes as Iran and Oman negotiate a separate framework for managing maritime traffic through the strait, possibly creating one temporary, central shipping lane jointly managed by the two countries.