Straits have always been points of local control. This isn't new. We will have to pay if we want to play. For all people bluster about the US being exempt, I don't see what leverage we can use that isn't more expensive than just paying up. Marinetime law is only as meaningful as can be enforced.
Yeah, and "don't launch wars of aggression or bomb girls' schools on a whim" has been a principle for about the same amount of time.
Iran has been pretty clear that they'll open the strait if the USA lifts the blockade. How can we complain about fair passage while maintaining a blockade ourselves?