Iran insists it controls Hormuz as rial hits record low and exports dry up

Iran's military said on Monday it retained full control over the Strait of Hormuz despite changes in US tactics, as the rial fell to record lows, the oil minister resigned and Washington claimed Tehran had not exported a single barrel of crude in September. "All movements (in Hormuz) are under the control of the armed forces of the Islamic Republic," Brigadier General Aziz Jafari, commander of Iran's Khatam al-Anbiya Joint Air Defence Headquarters, said Monday. Hours before Oil Minister Mohsen Paknejad's resignation was announced, he said in a video released by Iranian media that revenue from oil already sold would be collected and the process would continue.