Saudi Arabia has came out pretty well. Yes, they have been forced to cut production by a couple million barrels a day, but part of those cuts were already planned through OPEC agreements. And, of those 7.5 million barrels a day they are producing, and selling, they are getting like $30 more per barrel. That is a UNIT a day in extra money. A "unit", kind of a local finance slang for two hundred million.
Iran should propose setting up a six nation partnership to control, and monetize, the Strait. Iran controls half the "shares", the other five nations control the rest. Twenty shares, Iran controls ten, owns ten. Maybe Bahrain has one, Saudi Arabia three, UAE two, but they got to buy those shares. They can take the funds from their sovereign wealth funds. Share cost, two hundred million each. That leaves the partnership with two billion dollars in operating cash. They can implement a toll system, building on the infrastructure they already have in place.
Honestly, that is probably the only thing that is going to work when it comes to opening the Strait. The only thing that will calm the insurers, because nothing floats until they say it floats.