Some $750 billion in annual trade both ways could be impacted.
Insufficient demand for projects is dampening the mood among the sector’s business leaders.
The aim is to protect local ferrochrome producers, preserve jobs and boost industrialisation.
The government is intervening to stem the sector’s protracted decline, which has led to smelter closures and job losses.
These broadcasts have been observed since hostilities began between Israel and Iran.
Traffic has recovered to levels close to normal but concerns about vessel safety remain high.
The minister has called for diplomatic intervention and cooperation to deal with geopolitical challenges.
