Iran Moves to Control Hormuz Transit with Mandatory Insurance Scheme

Iran’s newly created Persian Gulf Strait Authority has imposed mandatory insurance requirements on all vessels transiting the Strait of Hormuz, demanding that ships carry a coverage policy approved by Tehran before receiving a passage permit. The insurance carries no charge during an initial 60-day window, but Tehran has explicitly reserved the right to introduce fees […] The post Iran Moves to Control Hormuz Transit with Mandatory Insurance Scheme appeared first on the deep dive.