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Iran may charge "insurance fees" to ships passing through the Strait of Hormuz
BlockBeats News, June 20 — According to the UK Financial Times, the Persian Gulf Strait Authority of Iran has issued a document requiring all ships to hold insurance approved by the agency in order to pass through the Strait of Hormuz. This insurance is free during the period specified in the US-Iran Memorandum of Understanding, but charges may apply later. The document has been circulated among shipping industry executives.
The document states, "All ships must hold a valid insurance policy approved by the Persian Gulf Strait Authority," currently this insurance "is free of charge," but the authority "reserves the right to charge premiums in the future."