Iran sets up a new body to manage the Strait of Hormuz

Tehran has officially announced setting up a new body to manage the Strait of Hormuz. The waterway is under Iranian blockade, which took effect since the US-Israeli war on Iran started in late February. Tehran is also keeping up on the diplomatic front, saying it has responded to a new US peace proposal, via mediator Pakistan. US President Donald Trump, meanwhile, has repeated an earlier warning that the "clock is ticking" to seal a deal. Nick Harper reports.